Using information technology in the sales/collection process is least likely to

Question

Using information technology in the sales/collection process is least likely to address any form of ________risk.
A. Strategic

B. Hazard

C. Operational

D. Financial

Which of the following demonstrates the strongest internal control over the sales/collection process?

A. Invoices are compared to packing lists.

B. Cash receipts clerk reconciles the bank account daily.

C. A sales clerk approves customer credit for each transaction.

D. Remittance advices are sequentially numbered.


Which of the following internal control processes would most likely be completed using information technology?

A. Document matching

B. Sequential numbering

C. Separation of duties

D. Evaluating credit

Explanation / Answer

Using information technology in the sales/collection process is least likely to address any form of ________risk.
A. Strategic

B. Hazard

C. Operational

D. Financial

Which of the following demonstrates the strongest internal control over the sales/collection process?

A. Invoices are compared to packing lists.

B. Cash receipts clerk reconciles the bank account daily.

C. A sales clerk approves customer credit for each transaction.

D. Remittance advices are sequentially numbered.


Which of the following internal control processes would most likely be completed using information technology?

A. Document matching

B. Sequential numbering

C. Separation of duties

D. Evaluating credit

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