To Address the Assertion of Accuracy for Cash Receipts, Which

question 18

Multiple Choice

To address the assertion of accuracy for cash receipts, which of the following are exception reports generated daily?

• A)Any recorded values of cash received not supported by an underlying remittance report or cash receipts journal
• B)Inappropriate discounts taken by customers for early payment
• C)Any cash receipts recorded in the incorrect time period
• D)Any recorded cash receipts not supported by the bank remittance report

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Definitions:

Poisson Probability Distribution

A discrete frequency distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space.

Intensive Care Unit

A specialized department in a hospital that provides critical care to seriously ill patients.

Binomial Probability Distribution

A type of distribution that represents the number of successes in a fixed number of independent trials, with only two possible outcomes.

Discrete Probability Distributions

Probability distributions that deal with discrete random variables, which have countable outcomes.