Quiz 4 Acct - Question 1 0 out of 2 points When will a...

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Question 1 0 out of 2 points When will a credit check approval most likely require specific authorization by the credit department? Answer Selected Answer: when verifying that the current transaction does not exceed the customer’s credit limit Correct Answer: when verifying that the current transaction is with a valid customer Question 2 2 out of 2 points Which type of control is considered a compensating control? Answer Selected Answer: supervision Correct Answer: supervision Question 3 2 out of 2 points In regard to the bill of lading which of the following is false? Answer Selected Answer: It is completed before the packing slip and shipping notice.
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Correct Answer: It is completed before the packing slip and shipping notice. Question 4 0 out of 2 points Which situation indicates a weak internal control structure? Answer Selected Answer: the record- keeping clerk maintains both AR and AP subsidiary ledgers Correct Answer: the AR clerk authorizes the write off of bad debts
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This note was uploaded on 11/04/2011 for the course ACCOUNTING 205 taught by Professor Mckguiera during the Spring '11 term at Post.

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Quiz 4 Acct - Question 1 0 out of 2 points When will a...

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