Under a System of Sound Internal Controls, If a Company

question 49

Multiple Choice

Under a system of sound internal controls, if a company sold defective goods, the return of those goods from the customer should be accepted by the:

• A)Receiving Clerk
• B)Sales Clerk
• C)Purchasing Clerk
• D)Inventory Control Clerk

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Definitions:

Israeli Shekel

The official currency of Israel.

Spot Rate

The current market price of a currency, commodity, or security for immediate delivery and payment.

Swiss Francs

The legal currency of Switzerland, known for its stability and used as a benchmark or safe-haven currency in international finance.

Canadian Dollar

The Canadian Dollar is the official currency of Canada, symbolized by $ or C$ to distinguish it from other dollar-denominated currencies.