One of the Key Internal Controls to Prevent Transactions in the Sales

question 134

Multiple Choice

One of the key internal controls to prevent transactions in the sales and collection cycle to fictitious customers is to

• A)have the bank reconciliation done by someone who is independent of the treasury function.
• B)account for the integrity of the numerical sequence of sales orders.
• C)compare customer numbers entered to the customer master file.
• D)include the sales price list of all products in the computer files.

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Definitions:

Integration Supply Information

The process of combining and managing supply-related information across different stages of the supply chain for better coordination and decision-making.

Domestically

Pertaining to or occurring within one's own country or home, often used in contrast to international or foreign contexts.

Globally

Pertaining to activities, considerations, or impacts that span across the entire world, not limited to any single geographical area.

Supply Objectives

Goals set by an organization regarding the procurement, management, and delivery of materials and products in a way that supports its business strategy and customer needs.