Quiz Ch10 - ViewAttempt1of1 Title: Started: Submitted:...

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View Attempt 1 of 1  Title: M10 Started: March 1, 2009 8:23 PM Submitted: March 1, 2009 8:47 PM Time spent: 00:23:48  Total score: 6/10 = 60%   Total score adjusted by 0.0  Maximum possible score: 10 
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1.      Which of the following statements regarding the examination of negotiable notes receivable is  correct?     Student Response Value Correct Answer Feedback a.  Confirmation from the  customer of a note is  not an acceptable  alternative to  inspection 100%      b.  Notes receivable  discounted without  recourse are  confirmed via the  standard bank  confirmation form used  in the audit of cash 0%      c.  Physical inspection of  a note by the auditor  provides conclusive  evidence 0%      d.  Notes receivable  discounted with  recourse need not be  confirmed 0%         Score: 0/1    2.      In auditing accounts receivable the negative form of confirmation request most likely would be  used when     Student Response Value Correct Answer Feedback a.  Recipients are likely to  return positive  0%     
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confirmation requests  without verifying the  accuracy of the  information b.  The combined  assessed level of  inherent and control  risk relative to  accounts receivable is  low 100%      c.  A small number of  accounts receivable  are involved but a  relatively large  number of errors are  expected 0%      d.  The auditor performs 
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Quiz Ch10 - ViewAttempt1of1 Title: Started: Submitted:...

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