The Following Set of Items Describes Activities Completed by a Company

question 127

Multiple Choice

The following set of items describes activities completed by a company in purchasing and paying for merchandise and in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. (Choices may be used more than once.)
-Mathematical extensions and footings on purchase invoices are verified before the invoices are paid.

• A)Adheres to sound internal controls
• B)Violates sound internal controls
• C)Neither strengthens nor violates internal control

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Definitions:

Customer Complaints

Feedback from customers expressing dissatisfaction with a product or service.

Free Consulting

Offering professional advice without charge, often as a way to introduce services or gain trust.

Indirect Method

A technique that subtly conveys messages or arrives at conclusions, often used in communication or financial statements.

Goodwill Messages

Written or spoken communications intended to foster positive relations, show appreciation, or build good will between individuals or organizations.