The Most Effective Internal Control Procedure to Prevent or Detect

question 55

Multiple Choice

The most effective internal control procedure to prevent or detect the creation of fictitious credit memoranda for sales returns is to

• A)supervise the accounts receivable department
• B)limit access to credit memoranda
• C)prenumber and sequence check all credit memoranda
• D)require management approval for all credit memoranda

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Definitions:

Second-borns

Individuals born as the second child in a family, who may experience different developmental and social influences compared to their siblings.

First-borns

The eldest child in a family, often attributed with characteristics such as leadership and responsibility due to their birth order.

Unanswered Questions

Issues or queries that have not yet been addressed or resolved.

Inconsistent

Lacking in uniformity; displaying variations that often contradict each other.