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

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
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.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
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
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern