Standard Control Procedures Over Customer Remittances Received Through the Mail

question 46

Multiple Choice

Standard control procedures over customer remittances received through the mail include having the mailroom personnel:

• A) forward the remittances, unopened, directly to the accounts receivable clerk.
• B) open the mail, restrictively endorse the cheques and then forward the remittances directly to the cashier.
• C) open the mail, restrictively endorse the cheques and then forward the remittances directly to the accounts receivable clerk.
• D) open the mail, restrictively endorse the cheques and then list each remittance on a prelist.

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Definitions:

Error Impact

Refers to the effect that inaccuracies in data or calculations can have on the results of a study or analysis.

Reliability Equation

A formula used to calculate the consistency or stability of scores obtained from tests measuring the same construct.

Reliability

Reliability refers to the consistency of a measure or instrument; a reliable instrument yields similar results under the same conditions over multiple trials.

Validity

The degree to which an assessment accurately measures its purported content.