The Internal Control Activity Related to the Adequate Records and Documents

question 96

Multiple Choice

The internal control activity related to the adequate records and documents, related to sales, includes which of the following?

• A)Those responsible for recording sales should ensure that the supporting documentation is retained and organized.
• B)Information systems duties included in the revenue process includes the preparation of sales orders and shipping logs.
• C)All records are to be prepared by
• D)The authorization process is to remain separate from the recording process.

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Definitions:

Upper Confidence Bound

The upper limit of a confidence interval, representing the highest value that a parameter is expected to be.

Z-Value

A statistic that measures the number of standard deviations a data point is from the mean of a distribution, often used in standard score calculations.

Population Proportion

A measure that represents the fraction or percentage of members in a population that exhibit a certain attribute or characteristic.

Margin of Error

An expression of the amount of random sampling error in a survey's results, indicating the range within which the true population parameter is likely to lie.