Multiple Choice
Sam Fenton wants to ensure that sales in a retail outlet are not recorded at the wrong amount. Which preventive control will help him ensure his objective?
A) the signature of the goods by the warehouse receiver on a receiving report or a bill of lading
B) a credit check by the credit manager
C) automatic pricing of sales invoices using a master price file
D) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q3: In larger entities,there are often limitations surrounding
Q12: Internal control encompasses which of the following
Q13: Which of the following is not a
Q14: Internal control weaknesses decrease the risk of
Q14: If inherent risk is high and no
Q16: The purpose of the management letter is
Q19: The purpose of management letters is to<br>A)
Q20: The auditor had the following procedures in
Q21: Tests of controls will usually be carried
Q21: Narratives involve the auditor describing in words