Which of the Following Is an Example of Exercising Internal

question 103

Multiple Choice

Which of the following is an example of exercising internal control over receivables?

• A)separating cash collection and credit allowance duties
• B)extending credit only to customers who are most likely to pay
• C)pursuing collection from customers to maximize cash flow
• D)ensuring quick recovery of accounts receivable

Comprehend web development technologies and languages.

Distinguish between different types of programming paradigms and environments.

Understand the concept and importance of testing in software development.

Recognize the role of updates and service packs in software maintenance.

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Definitions:

Statement Of Comprehensive Income

Financial statement summarizing a firm’s performance over a period of time. Formerly called an income statement.

Quick Ratio

A liquidity metric that measures a company's ability to cover its short-term obligations with its most liquid assets, excluding inventory.

Accounts Receivable

Company receivables originating from goods or services offered to customers who haven't yet completed payment.

Accounts Payable

Funds that a company is required to pay to its suppliers for products or services received but for which payment has not yet been made.