The following is a list of 10 control plans and ten statements describing either
ID: 2401307 • Letter: T
Question
The following is a list of 10 control plans and ten statements describing either the achievement of a control goal (i.e., a system success) or a system deficiency (i.e., a system failure). Match the letter of the best control plan to achieve the desired goal or to address the system deficiency described. A letter should be used only once.
a.Compare input shipping notice to sales order master data
b.Review shipped not billed sales orders (tickler file)
c.Immediately endorse incoming checks
d.Independent billing authorization
e.Immediately separate checks and remittance advices
f.Turnaround documents
g.Monitor open accounts receivable
h. Pre-numbered documents
i.One-for-one checking of deposit slip and checks
j.Document design
Helps to ensure that all shipments are billed in a timely manner.
This feature can be used to help prevent duplicate document numbers from entering the system to ensure input validity.
Helps to ensure the validity of shipping notices.
Ensures efficient employment of resources and remittance advice input accuracy.
Helps optimize cash flows, solve billing and cash receipts processing problems, and ensure that the organization complies with compensating balance requirements of loan agreements with its bank.
Helps to ensure the security of resources (prevent fraudulent appropriation)
Helps ensure remittance advice input validity, completeness and accuracy.
Ensures that the items and quantities shipped are the same as the items and quantities on the sales order.
Should have precluded a field salesman from omitting the sales terms from the sales order, thereby causing the order to be rejected by the computer data entry personnel.
Reduces opportunities for lapping.
- a. b. c. d. e. f. g. h. i. j.Helps to ensure that all shipments are billed in a timely manner.
- a. b. c. d. e. f. g. h. i. j.This feature can be used to help prevent duplicate document numbers from entering the system to ensure input validity.
- a. b. c. d. e. f. g. h. i. j.Helps to ensure the validity of shipping notices.
- a. b. c. d. e. f. g. h. i. j.Ensures efficient employment of resources and remittance advice input accuracy.
- a. b. c. d. e. f. g. h. i. j.Helps optimize cash flows, solve billing and cash receipts processing problems, and ensure that the organization complies with compensating balance requirements of loan agreements with its bank.
- a. b. c. d. e. f. g. h. i. j.Helps to ensure the security of resources (prevent fraudulent appropriation)
- a. b. c. d. e. f. g. h. i. j.Helps ensure remittance advice input validity, completeness and accuracy.
- a. b. c. d. e. f. g. h. i. j.Ensures that the items and quantities shipped are the same as the items and quantities on the sales order.
- a. b. c. d. e. f. g. h. i. j.Should have precluded a field salesman from omitting the sales terms from the sales order, thereby causing the order to be rejected by the computer data entry personnel.
- a. b. c. d. e. f. g. h. i. j.Reduces opportunities for lapping.
Explanation / Answer
Answer:
1
Helps to ensure that all shipments are billed
in a timely manner.
B
Review shipped not billed sales orders (tickler file)
2
This feature can be used to help prevent duplicate document numbers from entering the system to ensure input validity.
H
Prenumbered documents
3
Helps to ensure the validity of shipping notices.
D
Independent billing authorization
4
Ensures efficient employment of resources and remittance advice input accuracy.
F
Turnaround documents
5
Helps optimize cash flows, solve billing and cash receipts processing problems, and ensure that the organization complies with compensating balance requirements of loan agreements with its bank.
G
Monitor open accounts receivable
6
Helps to ensure the security of resources (prevent fraudulent appropriation)
C
Immediately endorse incoming checks
7
Helps ensure remittance advice input validity, completeness and accuracy.
I
One-for-one checking of deposit slip and checks and invoice
8
Ensures that the items and quantities shipped are the same as the items and quantities on the sales order.
A
Compare input shipping notice to sales order master data
9
Should have precluded a field salesman from omitting the sales terms from the sales order, thereby causing the order to be rejected by the computer data entry personnel.
J
Document design
10
Reduces opportunities for lapping.
E
Immediately separate checks and remittance advices
1
Helps to ensure that all shipments are billed
in a timely manner.
B
Review shipped not billed sales orders (tickler file)
2
This feature can be used to help prevent duplicate document numbers from entering the system to ensure input validity.
H
Prenumbered documents
3
Helps to ensure the validity of shipping notices.
D
Independent billing authorization
4
Ensures efficient employment of resources and remittance advice input accuracy.
F
Turnaround documents
5
Helps optimize cash flows, solve billing and cash receipts processing problems, and ensure that the organization complies with compensating balance requirements of loan agreements with its bank.
G
Monitor open accounts receivable
6
Helps to ensure the security of resources (prevent fraudulent appropriation)
C
Immediately endorse incoming checks
7
Helps ensure remittance advice input validity, completeness and accuracy.
I
One-for-one checking of deposit slip and checks and invoice
8
Ensures that the items and quantities shipped are the same as the items and quantities on the sales order.
A
Compare input shipping notice to sales order master data
9
Should have precluded a field salesman from omitting the sales terms from the sales order, thereby causing the order to be rejected by the computer data entry personnel.
J
Document design
10
Reduces opportunities for lapping.
E
Immediately separate checks and remittance advices
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