Which of the Following Internal Controls Can Be Applied to the Sales/collection

question 17

Multiple Choice

Which of the following internal controls can be applied to the sales/collection process based on the role and purpose of the process?

• A)Separation of duties
• B)Bank reconciliation
• C)Both separation of duties and bank reconciliation
• D)Neither separation of duties nor bank reconciliation

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Definitions:

Federal Statute

A law enacted by the United States Congress that applies nationwide.

Legal Force

The effectiveness or binding power of a legal document, law, or regulation.

Injunction

A court order that either restrains a party from doing or compels a party to do a specific act.

Court Order

A directive issued by a judge or court that requires a party to take or refrain from taking a specific action.