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Unformatted text preview: 10. Are returned sales credits and other credits supported by documentation as to receipt, condition, and quantity, and approved by a responsible officer? 11. Are shipped quantities compared to invoice quantities? 12. Are sales invoices checked for error in quantities, prices, extensions and footing, and freight allowances, and checked with customers orders? 13. Is there an overall check on arithmetic accuracy of period sales data by a statistical or product-line analysis? 14. Are periodic sales data reported directly to general ledger accounting independent of accounts receivable accounting? Classification objective: 15. Does the accounting manual contain instructions for classifying sales? Cutoff objective: 16. Does the accounting manual contain instructions to date sales invoices on the shipment date? <<RevenueICQ.doc>>...
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- Spring '11