Review Fall 2015
Remember, these are short essay questions, not short answer questions.
1. Under what circumstances would a positive confirmation of accounts receivable be
preferable to a negative confirmation?
The difference between a po
1. For each of the following types of communications, indicate (a) the party issuing or
providing the communication, (b) the party receiving the communication, and (c) the time
period during which the communication is typically issued.
Exam 2 Review Fall 2015
1. Discuss and explain the independent auditor's responsibilities to detect and report errors and
The independent auditor has a duty to express an opinion on the fairness that the financial
statements represent. T
The eldercare facility and Grass Man had a long, ongoing relationship. Grass Man had
maintained the eldercares facilities for many years. Based upon their clients past behavior
and goodwill, Grass Man determined they would
1. Taxes for all taxing jurisdictions located within Forrest County are collected by the Forrest County, which
collects a 1% fee for the service. During 2011, taxes were levied by the County, Forrest City, and Forrest County
Schools of $2,000,000, $5,000,