Internal Control Over the Revenue Cycle White Floyd,Inc

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The Answer is Control procedures that should be implemented to ensure that sales transactions are properly recorded are:
∙ Sales orders are filled by authorized personnel following an authorized price catalog.
∙ Sales prices are to be maintained on the computer and access to the computer file is restricted to those authorized to change it.
∙ Internal audit department periodically should perform tests of sales invoices to see if the terms agree with authorized price lists.
∙ Executive approval should be required of all large,unusual,or complex sales transactions.
∙ Oral or written verification of prices with customers should be required for all nonstandard sales.
∙ Products shipped and billed must be checked against an existing product list.

Internal Control Over the Revenue Cycle White Floyd,Inc

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