Which of the Following Questions Included in an Internal Control

question 35

Multiple Choice

Which of the following questions included in an internal control questionnaire would evaluate the valuation objective of revenues?

• A)Is customer credit approved before orders are shipped?
• B)Are sales orders prenumbered?
• C)Are shipping documents required before a customer invoice is sent?
• D)Are payments received from the customer deposited in the bank in a timely manner?

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Definitions:

Offering Price

The price at which a company's shares are made available for sale to the public during an initial public offering or a secondary offering.