Which of the Following Internal Control Activities Most Likely Would

question 79

Multiple Choice

Which of the following internal control activities most likely would deter lapping of collections from customers?

• A)Independent internal verification of dates of entry in the cash receipts journal with dates of daily cash summaries.
• B)Authorization of write-offs of uncollectible accounts by a supervisor independent of credit approval.
• C)Separation of duties between receiving cash and posting the accounts receivable ledger.
• D)Supervisory comparison of the daily cash summary with the sum of the cash receipts journal entries.

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Definitions:

Perceived Role

A perceived role is an individual's understanding or belief about the expectations and behaviors associated with their position or status within a particular context.

Executive Subsystem

A component of family systems theory referring to the management and decision-making processes within a family unit.

Social Position

The rank or status of an individual or group within the social hierarchy, defined by factors like wealth, occupation, or education.

Homeostasis

The self-regulating process by which biological systems maintain stability while adjusting to conditions optimal for survival.