An Audit Procedure That Compares the Name, Amount, and Dates

question 46

Multiple Choice

An audit procedure that compares the name, amount, and dates shown on remittance advices, either paper of electronic via direct deposit, with cash receipts journal entries and with related duplicate deposit slips would be effective in detecting:

• A)kiting.
• B)lapping.
• C)illicit write-offs of customers as uncollectible accounts.
• D)sales without proper credit authorization.

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Definitions:

Positive Inequity

A situation in which an individual perceives that they are receiving more from a relationship or exchange than they are contributing, potentially leading to feelings of guilt or obligation.

Content Theories

Theories that explore the specific factors that motivate individuals at work, focusing on individual needs and desires.

Motivation

The inner drive or process that activates, guides, and maintains behavior towards achieving goals.

Expectancy Theory

A motivational theory suggesting that an individual's motivation is based on their expectations regarding outcomes of specific behaviors.