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Cadish Cadish
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Posts: 694
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7 years ago
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

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


Edition: 12th
Authors:
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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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inthe80sinthe80s
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7 years ago
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Cadish Author
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7 years ago
Smart ... Thanks!
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
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