Which of the Following Is Not a Key Control for Sales

question 140

Multiple Choice

Which of the following is not a key control for sales and cash receipts?

• A) active board of directors
• B) adequate separation of duties
• C) internal verification procedures
• D) adequate documents and records

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Definitions:

Journal Entry

A record of a business transaction in an accounting system that affects at least two accounts, one debit and one credit.

Debits Checking

The process of recording or deducting sums of money from a checking account, based on transactions made.

Credits Undeposited

Funds received by a company that have not yet been deposited into the bank account.

Vendor Transactions

Financial transactions made between a business and its suppliers/vendors, relating to the purchase of goods or services.