Effective Internal Control Over Accounts Receivable Ensures

question 163

Multiple Choice

Effective internal control over accounts receivable ensures:

• A)That credit is only extended to customers that meet the company's credit standards.
• B)That an approved factor is used when the company sells its accounts receivable.
• C)There is an accurate accounting for cash receipts,cash disbursements,and cash balances.
• D)The availability of adequate cash for conducting business operations.

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Definitions:

Reference Requests

The process of contacting previous employers, colleagues, or professional contacts to verify an applicant's qualifications, character, and experience.

Personnel File

A collection of records pertaining to an employee, including their employment history, performance reviews, and personal information.

Position Description

A detailed document that outlines the duties, responsibilities, and qualifications required for a specific job role.

Recruiting Process

The series of actions taken by an organization to identify and hire the best candidates for open positions.