The Most Effective Internal Control Procedure to Prevent or Detect

question 55

Multiple Choice

The most effective internal control procedure to prevent or detect the creation of fictitious credit memoranda for sales returns is to

• A)supervise the accounts receivable department
• B)limit access to credit memoranda
• C)prenumber and sequence check all credit memoranda
• D)require management approval for all credit memoranda

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Definitions:

Fan Kuan

A Chinese landscape painter of the Song Dynasty, celebrated for his monumental and highly detailed mountain sceneries.

Minimalist Landscapes

Artistic representations of landscapes that employ minimalism, focusing on simplicity and using a minimal number of colors, shapes, and lines.

Silk Road

A network of trade routes connecting East and West, significant for the cultural, commercial, and technological exchanges between these regions throughout history.

Buddhism

A major world religion founded in the 5th century BCE by Siddhartha Gautama, focusing on the elimination of suffering through ethical living, meditation, and insight.