To Determine That Sales Are Accurately Charged,the Unit Prices on the Duplicate

question 122

Multiple Choice

To determine that sales are accurately charged,the unit prices on the duplicate sales invoices are normally compared with

• A)the original invoices.
• B)the amounts recorded in the sales journal for that transaction.
• C)the amounts posted to the customer's account in the accounts receivable master file.
• D)an approved item master file.

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Definitions:

Currency

The system of money in general use in a particular country or economic system for buying and selling goods and services.

Current Account

A component of a country's balance of payments that measures the trade balance plus net income and direct payments between countries.

Flows of Funds

The movements of money between sectors of an economy, showing how funds are used and where they come from.

Net Income

The profit of a company after all expenses and taxes have been deducted from total revenue.