One of the Key Internal Controls to Prevent Invalid (Fictitious)transactions

question 24

Multiple Choice

One of the key internal controls to prevent invalid (fictitious) transactions in the sales and collection cycle is to:

• A) include a list of customer numbers in the computer files.
• B) have the bank reconciliation done by someone who is independent of the treasury function.
• C) include the sales price list of all products in the computer files.
• D) account for the integrity of the numerical sequence of sales orders.