Which of the Following Controls Ensures the Accuracy of Transactions

question 32

Multiple Choice

Which of the following controls ensures the accuracy of transactions in the revenue process?

• A) Every transaction is reviewed at the end of the month.
• B) Independent checks should be made to ascertain that the correct prices are being charged to pre-approved customers.
• C) Invoice quantities and amounts should be verified against the sales order and shipping records, with discrepancies reported if over a certain amount.
• D) All of the above ensure the accuracy of transactions in the revenue process.

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Definitions:

TNC

Transnational Corporation; a large company that operates in multiple countries across the globe.

Economic Gains

Increases in wealth, financial health, or resources, often measured in terms of income, profits, or value.

National Boundaries

Geographically defined borders that separate the territory of one nation-state from another.

Developing Countries

Nations with lower living standards, underdeveloped industrial bases, and low Human Development Index relative to other countries.