A Control That May Be Implemented to Ensure All Sales

question 35

Multiple Choice

A control that may be implemented to ensure all sales that occur are recorded in the general ledger includes which of the following?

• A)Use of prenumbered shipping,invoice and sales documents.
• B)Use of prenumbered statements,inventory lists and credit memos.
• C)Reconciliation of invoices with customer statements.
• D)Use of pre-authorized price lists.

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Definitions:

Compulsory Arbitration

A mandatory process where disputing parties must submit their conflict to arbitration, an alternative dispute resolution method, instead of going through the court system.

Right To Strike

The legal right of workers to cease work in order to gain concessions from their employer, such as higher pay or improved working conditions.

Right To Lockout

The legal right of an employer to deny employees access to the workplace during a dispute, as a counterpart to the right to strike.

Representation Votes

A voting process in which employees decide whether they want to be represented by a union.