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.

Learn to calculate bootstrap standard errors and understand their significance.

Grasp the methodology to calculate P-values for permutation tests.

Understand the factors influencing variation in bootstrap distributions.

Learn to apply bootstrap methods to estimate and interpret measures of central tendency in skewed distributions with outliers.

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Definitions:

Accounting System

A comprehensive process of collecting, recording, classifying, and summarizing financial information for business transactions.

Feedback

Measures provided to operational employees or managers on the performance of subunits of the organization. These measures are used by employees to adjust a process or a behavior to achieve goals. See management by exception.

Systems Analysis

The process of studying and analyzing a system to identify its goals and purposes and to create systems and procedures that will achieve them in an efficient way.

Legal Organization

The way a business is structured legally, such as a corporation, partnership, or sole proprietorship, affecting liability and tax treatment.