Which of the Following Internal Control Procedures Is Most Likely

question 20

Multiple Choice

Which of the following internal control procedures is most likely to ensure that all billed sales are correctly posted to the accounts receivable subsidiary ledger?

• A) Daily sales summaries are compared to daily postings to the accounts receivable subsidiary ledger.
• B) Each sales invoice is supported by a pre-numbered shipping document.
• C) The accounts receivable subsidiary ledger is reconciled daily to the control account in the general ledger.
• D) Each shipment on credit is supported by a pre-numbered sales invoice.

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Definitions:

Extended ERP

An enhanced version of Enterprise Resource Planning that integrates external business processes, such as supply chain management and customer relations.

Module

A self-contained unit of software or hardware that performs a specific function and can be integrated with other modules to form a larger system.

ERP Software Vendor

Companies specializing in the development and sale of Enterprise Resource Planning software, which helps organizations manage business processes.

Comparative Report

A document that evaluates and contrasts the differences and similarities between two or more items, entities, or conditions.