Common Types of Independent Checks Within the Revenue Process Include

question 59

Multiple Choice

Common types of independent checks within the revenue process include all of the following, except:

• A)Verification of information in the sales journal and on sales invoices
• B)Verification of the bank statement and the cash account in the general journal
• C)Reconciliation of accounts receivable detail with invoices and with the general ledger
• D)Reconciliation of inventory records with actual (counted) quantities on hand

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Definitions:

Architecture

The art and science of designing and constructing buildings and other physical structures.

Estimated Lifetimes

Predicted duration or span of operation of a product or system based on statistical analysis.

Histogram

A graphical representation of the distribution of numerical data, where the data is grouped into ranges and each range corresponds to a vertical bar.

Stemplots

A graphical representation of data used to display its shape and distribution, by separating each data value into a stem and a leaf.