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Which of the following internal control procedures will most likely prevent the concealment of a ...

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Which of the following internal control procedures will most likely prevent the concealment of a ...

Which of the following internal control procedures will most likely prevent the concealment of a cash shortage resulting from the improper write-off of a trade account receivable? Write-offs must be
A) approved by a responsible officer after review of credit department recommendations and supporting evidence.
B) supported by an aging schedule showing that only receivables overdue several months have been written off.
C) approved by the cashier who is in a position to know if the accounts receivable have, in fact, been collected.
D) authorized by company field sales employees who are in a position to determine the financial standing of the customers.

Textbook

Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

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Auditing: The Art and Science of Assurance Engagements, Twelfth Canadian Edition, 12/E (Arens, Elder, Beasley, Splettstoesser)

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