Describe circumstances under which confirmation of accounts, Accounting Basics

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Describe circumstances under which confirmation of accounts

Problem

Your CPA firm has been auditing the financial statements of XYZ Company for several years. Your assistants have approached you and asked if they can omit the confirmation of XYZ's accounts receivable. Identify the paragraph from the standards that will describe the circumstances under which the confirmation of accounts receivable may be omitted.

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Accounting Basics: Describe circumstances under which confirmation of accounts

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Accounting Basics: Describe circumstances under which confirmation of accounts

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