Which of the Following Internal Control Procedures Most Likely Would

question 53

Multiple Choice

Which of the following internal control procedures most likely would deter lapping of collections from customers?

• A) Independent internal verification of dates of entry in the cash receipts journal with dates of daily cash summaries.
• B) Authorization of write-offs of uncollectible accounts by a supervisor independent of credit approval.
• C) Segregation of duties between receiving cash and posting the accounts receivable ledger.
• D) Supervisory comparison of the daily cash summary with the sum of the cash receipts journal entries.

Understand the distinction between behavior-based questions and other types of interview questions.

Understand the various types of intelligences and their application in life.

Recognize the role of emotional intelligence in personal and professional success.

Identify defensive behaviors and their implications in interpersonal communication.

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Definitions:

Trustor

An individual or entity that places confidence or trust in another, often within the context of a relationship or transaction.

Sustaining Trust

Maintaining confidence and reliability in relationships or systems over time.

Transactional Negotiation

involves a bargaining process primarily focused on the exchange of goods, services, or terms where the relationship between parties is secondary to the deal itself.

Dependence Dynamics

The varying degrees and forms of reliance between entities, affecting their interactions and power balance.