An Audit Procedure That Compares the Name, Amount, and Dates

question 46

Multiple Choice

An audit procedure that compares the name, amount, and dates shown on remittance advices, either paper of electronic via direct deposit, with cash receipts journal entries and with related duplicate deposit slips would be effective in detecting:

• A)kiting.
• B)lapping.
• C)illicit write-offs of customers as uncollectible accounts.
• D)sales without proper credit authorization.

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Definitions:

Hereditarily

Hereditarily pertains to the genetic transmission of traits, diseases, or characteristics from parents to offspring.

Artificial Selection

The process by which humans breed plants and animals for particular genetic characteristics.

Selective Breeding

The process of breeding plants or animals for specific genetic traits, aiming to enhance or perpetuate desirable characteristics.

Genetic Differences

Variations in the DNA sequences among individuals within a population, contributing to the diversity of traits.