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Why are confirmations of accounts payable seldom used

Sagot :

AliahMontefalco15idn

Answer:✏️

WHY ARE CONFIRMATIONS OF ACCOUNT PAYABLE SELDOM TO USED ??

Account payable confirmation is the confirmation prepared and processed by auditors to cross-check the amount and information between the client’s records and the client’s supplier’s records. Those could be included in the outstanding balances and transactions. Account payable is the current liabilities recorded by the client in financial statements as of the reporting date. It shows the current liabilities that the entity owes its suppliers.

Explanation:

#CARRY ON LEARNING

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