All of the Following Are Important Controls Over Credit Memos

question 42

Multiple Choice

All of the following are important controls over credit memos except:

• A)proper segregation of duties to ensure that sales discounts taken were earned.
• B)credit memos should be approved by someone other than whoever initiated it.
• C)credit memos should be supported by a receiving document for returned goods.
• D)proper segregation of duties between access to customer records and authorizing credit memos.

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Definitions:

Incidence Rate

The rate at which new cases of a disease occur in a population over a specified period.

Case-Control

A study design used in epidemiology to identify factors that may contribute to a health outcome by comparing individuals with a disease or outcome of interest (cases) to individuals without the disease or outcome (controls).

Cross-Sectional

A type of observational study that analyzes data from a population at one specific point in time.

Cohort

A group of individuals sharing a common characteristic or experience within a defined period, often observed over time in research to identify patterns and outcomes.