Home > Term: confirmation
confirmation
Letter sent by the auditors of a firm's to its debtors and creditors, requesting verification of the amounts of receivables and payables balances shown under their names in the firm's books. A positive confirmation asks for a reply whether the balance is correct or not; a negative confirmation asks for a reply only if an error is found.
- Part of Speech: noun
- Industry/Domain: Accounting
- Category: General accounting
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Creator
- anton.chausovskyy
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