Which One of the Following Best Describes the Auditors Responsibilities

question 47

Multiple Choice

Which one of the following best describes the auditors responsibilities regarding appropriate authorizations in the sales/collections cycle?

• A)B, C, and D should all be of concern to the auditor.
• B)Credit must be authorized before the sale.
• C)Goods must be shipped after the authorization.
• D)Prices must be authorized.

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Definitions:

Athletic Performance

The level of achievement and proficiency demonstrated by an athlete or sports participant in competitive settings.

Utility

In economics, the satisfaction or benefit derived from the consumption of goods or services.

Ultimate Consumer

The final purchaser and user of a product or service, as opposed to an intermediary or a business buyer.

Newspaper Reporter

A professional tasked with investigating, writing, and reporting news stories for newspapers or news websites.