One Key Internal Control to Prevent Fictitious Transactions in the Sales

question 6

Multiple Choice

One key internal control to prevent fictitious transactions in the sales and collection cycle is:

• A) assign a specific customer number for each customer in the computer files.
• B) to account for the integrity of the numerical sequence of sales orders.
• C) to include the sales price list of all products in the computer files.
• D) having bank reconciliations prepared by one who is independent of the treasury function.

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Definitions:

Minorities

Groups in society that are smaller in number and often subjected to differential treatment or discrimination based on ethnic, racial, religious, or cultural attributes.

Represented Correctly

The accurate and fair depiction of subjects, events, or information without bias or distortion.

Population

Population refers to the total number of individuals or inhabitants within a specific area or belonging to a particular group.

Severe Time Constraints

This term represents the strict or tight deadlines and schedules within various contexts, often leading to pressure and challenges in project completion or task execution.