ACCT 461 Exam 2 Questions With
100% Verified Answers
Tracing shipping documents to sales invoices is what key control in
the revenue cycle? -
correct answer ✅completeness of the sales invoice
identify one duty that is incompatible with the other three duties:
-confirms sales order with the customer
-verifies inventory availability by checking read-only inventory
records
-prepares sales order forms
-approves credit limits -
correct answer ✅approves credit limits
Identify one duty that is incompatible with the other three duties
-prepare the sales invoice for good shipped to the customer
-prepare a shipping document for all goods shipped
-prepare goods for shipment
-compare the inventory transferred with the quantities listed on the
sales order -
correct answer ✅prepare the sales invoice for goods shipped to
the customer
, ACCT 461 Exam 2 Questions With
100% Verified Answers
Authorizing customer credit prior to sales order processing is a key
control in the revenue cycle. The control best which of the
following objectives. -
correct answer ✅Validity of the sales order
Which of the following is a detective control
-obtaining transfer signatures upon transfer of inventory and cash
-setting fields to required in a database table
-segregating billing duties from cash receipts duties
-physical inventory counts -
correct answer ✅physical inventory counts
it is unnecessary to provide a copy of the sales order to
-the customer
-the cash receipt department
-the shipping department
-the billing department -
correct answer ✅the cash receipt department
100% Verified Answers
Tracing shipping documents to sales invoices is what key control in
the revenue cycle? -
correct answer ✅completeness of the sales invoice
identify one duty that is incompatible with the other three duties:
-confirms sales order with the customer
-verifies inventory availability by checking read-only inventory
records
-prepares sales order forms
-approves credit limits -
correct answer ✅approves credit limits
Identify one duty that is incompatible with the other three duties
-prepare the sales invoice for good shipped to the customer
-prepare a shipping document for all goods shipped
-prepare goods for shipment
-compare the inventory transferred with the quantities listed on the
sales order -
correct answer ✅prepare the sales invoice for goods shipped to
the customer
, ACCT 461 Exam 2 Questions With
100% Verified Answers
Authorizing customer credit prior to sales order processing is a key
control in the revenue cycle. The control best which of the
following objectives. -
correct answer ✅Validity of the sales order
Which of the following is a detective control
-obtaining transfer signatures upon transfer of inventory and cash
-setting fields to required in a database table
-segregating billing duties from cash receipts duties
-physical inventory counts -
correct answer ✅physical inventory counts
it is unnecessary to provide a copy of the sales order to
-the customer
-the cash receipt department
-the shipping department
-the billing department -
correct answer ✅the cash receipt department
