An Auditor Is Using Audit Software to Check Inventory Accuracy

question 352

Multiple Choice

An auditor is using audit software to check inventory accuracy. Which of the following would be an indicator of poor input edit controls?

• A) Negative quantities on hand.
• B) Total dollar values of zero for some parts.
• C) Alpha characters in the field for order lead time.
• D) Reorder levels set too high.

Recognize the correct procedure for collecting bills owed by deceased patients, focusing on addressing and legal constraints.

Discern the exemptions under the Truth in Lending Act for credit transactions exceeding $25,000.

Calculate the duration of repayment schedules based on agreed terms between patient and practice.

Outline the initial steps in the collections process, emphasizing the importance of communication of office policy.