Identify a Necessary Control for Each of the Following Potential

question 6

Essay

Identify a necessary control for each of the following potential misstatements in relation to credit sales transactions:
1.Sales may be made to unauthorised customers.
2.Sales may be made without credit approval.
3.Goods may be released from the warehouse for unauthorised orders.
4.Unauthorised shipments may be made.
5.Some shipments may not be invoiced.
6.Invoices may not be journalised or posted to customer accounts.
7.Invoices may be posted to the wrong customer account.

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Definitions:

Spanish Missionary Period

The era from the late 15th to the 18th centuries when Spanish missionaries established missions to convert Native Americans to Christianity.

French and Indian War

A conflict between France and Britain from 1754 to 1763 in North America, part of the greater Seven Years' War, with Native American tribes playing key roles on both sides.

African Religions

Traditional religions practiced in various parts of Africa, often characterized by belief in a supreme being, ancestral worship, and spirituality connected to nature.

Middle Passage

The sea voyage that transported enslaved Africans across the Atlantic Ocean to the Americas as part of the triangular trade.