Question

During the process of confirming receivables as of December 31, Year 1, a positive confirmation was returned indicating the "Balance owed as of December 31 was paid on January 9, Year 2". The auditor would most likely.
A. Determine whether there were any changes in the account between January 1 and January 9, Year 2
B. Determine whether a customery trade discount was taken by the customer
C. Reconfirm the zero balance as of January 10, Year 2
D. Verify that the amount was received

Answer 1

Answer:

D. Verify that the amount was received.