Which of the Following Are Internal Controls Relating to Accounts

question 35

Multiple Choice

Which of the following are internal controls relating to accounts receivable?
I. Sending monthly statements of account to customers.
II.Reviewing slow paying accounts.
III. Regular reconciliation of the debtors control account and the subsidiary ledger.
IV.Separating the functions of maintaining the accounts receivables with processing of cash receipts.
V.Allowing debtors discount for early settlement.

• A) I III and V only.
• B) I, II and IV only
• C) I, II, III, and IV only
• D) I, II, III, IV and V.

Understand the concept and evolution of corporate social responsibility (CSR) including different perspectives and definitions.

Recognize the arguments for and against corporate social responsibility.

Identify the role of businesses in societal and environmental issues.

Comprehend the relationship between ethical business practices, profitability, and social responsibility.

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Definitions:

Congressional Oversight

The review, monitoring, and supervision of federal agencies, programs, activities, and policy implementation by the United States Congress.

Bureaucracy

An organizational structure within a government or private organization consisting of multiple levels and roles, responsible for the administration and execution of policies.

Congress

The national legislative body of the United States, consisting of two houses: the Senate and the House of Representatives.

Executive

A branch of government responsible for implementing and enforcing laws, typically headed by a president or prime minister.