Describe each of the following types of confirmations:

Describe each of the following types of confirmations:

• Positive confirmation
• Blank confirmation form
• Invoice confirmation
• Negative confirmation

Answer:


• Positive confirmations are communications addressed to a debtor requesting the recipient to confirm whether the balance as stated on the confirmation is correct or incorrect.
• Blank confirmation forms do not state the amount, but requests the recipient to fill in the balance or furnish other information.
• Invoice confirmations request a recipient to confirm an individual invoice rather than an entire balance.
• Negative confirmations are addressed to debtor, but request responses only if the information is incorrect.