Which of the Following Internal Control Activities Most Likely Would

question 12

Multiple Choice

Which of the following internal control activities most likely would ensure that all billed sales are correctly posted to the accounts receivable ledger?

• A)Daily sales summaries are compared to daily postings to the accounts receivable ledger.
• B)Each sales invoice is supported by a prenumbered shipping document.
• C)The accounts receivable ledger is reconciled daily to the control account in the general ledger.
• D)Each shipment on credit is supported by a prenumbered sales invoice.

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Definitions:

Similar Investment

An investment in assets or projects that have similar risk levels, expected returns, or financial profiles.

Interest Rate

The cost, in the form of a percentage of the principal amount, charged by a lender to a borrower for accessing funds or assets.

Profit Stream

Future flow of profits from an investment over time.

Kitchen Fixtures

Permanent installations in kitchens, such as sinks, faucets, and cabinetry, that are essential for the kitchen's functionality.