An Audit Procedure That Compares the Name, Amount, and Dates

question 99

Multiple Choice

An audit procedure that compares the name, amount, and dates shown on remittance advices with cash receipts journal entries and with related duplicate deposit slips would be effective in detecting

• A) kiting.
• B) lapping.
• C) unauthorized write-offs of customers as uncollectible accounts.
• D) sales without proper credit authorization.

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Definitions:

Deterministic Arrival

Describes a process where the timing of arrivals in a system can be exactly predicted or scheduled, with no randomness involved.

Reneged

In queuing theory, it refers to a customer who enters a waiting line but decides to leave before being served.

Jockeyed

Manipulated or maneuvered positions or situations strategically for an advantage.

Customer Service Rate

A metric that measures the quality or speed of service provided to customers, often used in supply chain and logistics management.