Answered

Westonci.ca is the premier destination for reliable answers to your questions, brought to you by a community of experts. Get immediate and reliable answers to your questions from a community of experienced experts on our platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

Ordinarily, these two tests, confirmations and estimating allowance for doubtful accounts, focus on which primary concerns and audit objective(s) for accounts receivable?

Sagot :

Existence and value - Are the accounts for the AR really there, and can they be collected.

What are accounts receivable?

Money owed to a business in the near future is represented by the asset account known as accounts receivable on the balance sheet. When a business permits a customer to pay for its products or services on credit, accounts receivable are generated. Similar to accounts receivable, accounts payable tracks money that is due as opposed to money that will be collected. The ratio of accounts receivable to sales outstanding or days sales outstanding can be used to determine how strong an organization's AR is. To determine when the AR will really be received, a turnover ratio study might be performed.

Briefing:

Existence is an audit affirmation that the auditor must examine to ensure that all accounts receivable are present.

To know more about accounts receivable, visit:

https://brainly.com/question/24261944

#SPJ4

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.