How Many of These Are Internal Controls Relating to Accounts

question 42

Multiple Choice

How many of these are internal controls relating to accounts receivable?
.Bad debts write-offs are authorised by a responsible officer.
.Monthly statements of account are sent to customers.
.The control account and the subsidiary ledger are regularly reconciled.

• A)None
• B)One
• C)Two
• D)Three

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Definitions:

Power Sharing

The distribution of authority and decision-making among multiple stakeholders or groups, often to ensure balanced governance.

Group Member Input

Contributions or feedback provided by individuals within a group, pivotal for collaborative decision-making and shared understanding.

Promises

Commitments or assurances given by a person or organization to do something or to behave in a certain way.

Corporate Social Responsibility

The practice of companies taking responsibility for the impact of their activities on customers, employees, communities, and the environment, often going beyond legal requirements.