All of the Following Are Important Controls Over Credit Memos

question 34

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 authorising credit memos.

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Definitions:

Growth Motivation

An internal drive to achieve personal improvement, learn new skills, and seek out new challenges.

Achievement Motivation

The drive or desire to accomplish goals, excel, and achieve competence and mastery in tasks.

Creativity

The ability to generate new ideas, alternatives, or possibilities that may be useful in solving problems, communicating with others, and entertaining.

Originality

The quality of being novel or unique, especially in the context of creative or innovative thinking.