Common Internal Controls for Accounts Receivable Would Not Include

question 78

Multiple Choice

Common internal controls for accounts receivable would not include:

• A)obtaining proper authorization for write-offs.
• B)sending invoices and monthly statements to customers.
• C)allowing all sales personnel to charge-off any accounts deemed uncollectible.
• D)developing procedures that ensure that all credit sales are recorded and customers' account are debited.

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Definitions:

Balancing Point

A point at which a system, object, or decision is in a state of equilibrium or balance, often used metaphorically to refer to fair or stable situations.

Deviations

Differences between observed values and the average or expected values in a data set.

Median

The middle value of a data set, where half the numbers are below and half are above this value.

Mean

The average of a set of numbers, calculated by summing all the numbers and then dividing by the count of those numbers.