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14-21 ( Objectives 14-3 , 14-4 , 14-5 , 14-6 ) The followers questions deal with internal fakes in the gross gross revenue and collecting cycle. Choose the best response. a. When a client fails to overwhelm a remittance advice with a payment, it is common for the person initiation the institutionalise to prep atomic number 18 one. Consequently, turn on should be opened by which of the future(a) four go with employees? (4) Receptionist b. A key internal conceal in the gross revenue and collection cycle is the separation of duties between cash handling and record keeping. The accusing close to straight associated with this control is to contrive that (4) existing cash receipts ar recorded. c. Company force account for the sequence of shipping documents and verify that an entry for each(prenominal) shipment is included in the sales journal. This control relates most directly to the sales transaction-related audit objective of (1) occurrenc e. 14-22 ( Objectives 14-3, 14-4 ) For each of the following types of misstatements (parts a through d), select the control that should have prevented the misstatement: a. A manufacturing company received a inviolable sales guide in the last month of the year, that the credit memorandum for the egest was not prepared until later on the auditors had completed their testing.

The returned ware was included in the physical inventory. (4) Receiving reports are prepared for altogether materials received and such reports are accounted for on a steady basis. b. Which of the following controls most like ly pull up lay on the line be effective in! offsetting the tendency of sales forcefulness to maximize sales volume at the expense of crippled bad debt write-offs? (3) Employees involved in the credit-granting function are abandon from the sales function. c. A sales invoice for $5,200 was computed correctly but, by mistake, was key-entered as $2,500 to the sales journal and to the accounts receivable master file. The node remitted only $2,500, the amount on his monthly statement. (1) Prelistings and...If you want to move up out a full essay, order it on our website: BestEssayCheap.com

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