Good Internal Controls in the Revenue Cycle Should Ensure All

question 40

Multiple Choice

Good internal controls in the revenue cycle should ensure all of the following except

• A)all sales are profitable
• B)all sales are recorded
• C)credit is authorized
• D)inventory to be shipped is not stolen

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Definitions:

Inflexible

Lacking the ability or willingness to change or adapt to different circumstances or conditions.

Collaborative Team

A group of individuals who work together effectively by sharing ideas, responsibilities, and efforts to achieve a common goal.

Communication Issues

Refers to obstacles or barriers during the exchange of information between individuals, leading to misunderstandings or misinterpretations.

Control Issues

Problems that arise from an individual's perceived lack of control over a situation, often leading to stress or conflict.