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:

Radiation

The emission of energy as electromagnetic waves or as moving subatomic particles, especially high-energy particles that cause ionization.

Earth

The third planet from the Sun; the only astronomical object known to harbor life, characterized by its vast oceans, breathable atmosphere, and diverse ecosystems.

Estimated

An approximated calculation or judgment of a value, number, quantity, or extent that is not exact but likely close to the actual amount.