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anthonydel117 anthonydel117
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Posts: 449
5 years ago
Segregation of duties controls dictates that the collection and recording functions be kept separate from each other. However, the accounts receivable department needs to know when customers pay their invoices. What is a solution to this potential internal control problem?

• Establish a lockbox arrangement with a bank.

• Have customers send a remittance advice with their payment.

• Have mailroom personnel prepare a remittance list which can be forwarded to accounts receivable.

• All of these
Textbook 
Accounting Information Systems

Accounting Information Systems


Edition: 14th
Authors:
Read 79 times
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wrote...
5 years ago
All of these
anthonydel117 Author
wrote...
5 years ago
TY
wrote...
5 years ago
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