An Audit Procedure Which Compared the Name, Amount and Dates

question 73

Multiple Choice

An audit procedure which compared the name, amount and dates shown on remittance advices with cash receipts journal entries and with related duplicate deposit slips would be effective in detecting:

• A) illicit write- offs of customers as uncollectible accounts.
• B) lapping.
• C) sales without proper credit authorisation.
• D) kiting.

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Definitions:

Collaborative Conflict

A conflict resolution approach where parties work together to find a mutually beneficial solution, emphasizing cooperation over competition.

Communication Efforts

Attempts or actions taken to convey, share, or exchange information, feelings, or ideas with others.

Expanding the Pie

A negotiation strategy aimed at increasing the available resources or options so that all parties can achieve more favorable outcomes.

Scarce Resources

Economic or environmental term referring to limited availability of resources that are desired or needed.