AUD 3 Internal Control 13 - 1 The Revenue Cycle (Sales Revenue, AR, Cash Receipts)

Question 1

The revenue cycle of a business consists of sales, billings, and collections.

Answer 1

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

Question 2

The revenue cycle of a business consists of s____, billings, and collections.

Answer 2

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

Question 3

The revenue cycle of a business consists of sales, b______, and collections.

Answer 3

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

Question 4

The revenue cycle of a business consists of sales, billings, and collections.

Answer 4

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

Question 5

The revenue cycle of a business consists of sales, billings, and c_________.

Answer 5

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

Question 6

The r_______ cycle of a business consists of sales, billings, and collections.

Answer 6

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

Question 7

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

In order to properly seg________ the incompatible functions of authorization, recording, and custody,

Answer 7

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties.

Question 8

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

In order to properly segregate the incom_______ functions of authorization, recording, and custody,

Answer 8

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

In order to properly segregate the incompatible functions of authorization, recording, and custody,

Question 9

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

In order to properly segregate the incompatible functions of authorization, recording, and custody,

the activities may include specific em____ees with each of the following duties.

Answer 9

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

In order to properly segregate the incompatible functions of authorization, recording, and custody,

the activities may include specific employees with each of the following duties.

Question 10

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties.

• Sales clerk – Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).
• Credit manager – Approves customer credit on orders (authorization).
• Warehouse clerk – Holds goods in inventory awaiting requests for shipment (custody).
• Shipping clerk – Removes items from inventory to ship to customer (custody).
• Billing clerk – Prepares sales invoices to send to customers (recording).
• Receivables clerk – Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).
• General ledger bookkeeper – Posts journal entries for sales and collections (recording).
• Mail room clerk/receptionist – Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody).
• Cashier – Receives checks, prepares deposit slip, and deposits funds at the bank (custody).
• Cash receipts clerk – Receives remittance listing and posts to cash receipts journal (recording).
• Receiving clerk – Receives all goods that are being returned and returns them to inventory (custody).
• Treasurer – Approves credit memos for returns and write-offs of uncollectible accounts (authorization).
• Controller/Internal Audit – Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Answer 10

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties.

• Sales clerk – Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).
• Credit manager – Approves customer credit on orders (authorization).
• Warehouse clerk – Holds goods in inventory awaiting requests for shipment (custody).
• Shipping clerk – Removes items from inventory to ship to customer (custody).
• Billing clerk – Prepares sales invoices to send to customers (recording).
• Receivables clerk – Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).
• General ledger bookkeeper – Posts journal entries for sales and collections (recording).
• Mail room clerk/receptionist – Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody).
• Cashier – Receives checks, prepares deposit slip, and deposits funds at the bank (custody).
• Cash receipts clerk – Receives remittance listing and posts to cash receipts journal (recording).
• Receiving clerk – Receives all goods that are being returned and returns them to inventory (custody).
• Treasurer – Approves credit memos for returns and write-offs of uncollectible accounts (authorization).
• Controller/Internal Audit – Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 11

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties.

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Answer 11

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties.

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 12

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

• Sales clerk
– Accepts or___s from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Answer 12

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 13

Revenue Cycle

• Sales clerk
– Accepts orders from cus_______s and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Answer 13

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 14

Revenue Cycle

• Sales clerk
– Accepts orders from customers and pre____s written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Answer 14

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 15

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal pren______ed, preprinted forms (PPN) (recording).

Answer 15

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 16

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, pre____ed forms (PPN) (recording).

Answer 16

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 17

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (re____ing).

Answer 17

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 18

Revenue Cycle

• S___s clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Answer 18

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 19

Revenue Cycle

• Sales clerk
– Acc___s orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Answer 19

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 20

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

• Credit manager
– Approves customer credit on orders (authorization).

Answer 20

Revenue Cycle

• Sales clerk
– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

• Credit manager
– Approves customer credit on orders (authorization).

Question 21

Revenue Cycle

• Credit manager
– Approves cus_____ credit on orders (authorization).

Answer 21

Revenue Cycle

• Credit manager
– Approves customer credit on orders (authorization).

Question 22

Revenue Cycle

• Credit manager
– Ap____es customer credit on orders (authorization).

Answer 22

Revenue Cycle

• Credit manager
– Approves customer credit on orders (authorization).

Question 23

Revenue Cycle

• Credit manager
– Approves customer cre___ on orders (authorization).

Answer 23

Revenue Cycle

• Credit manager
– Approves customer credit on orders (authorization).

Question 24

Revenue Cycle

• Credit manager
– Approves customer credit on orders (auth________).

Answer 24

Revenue Cycle

• Credit manager
– Approves customer credit on orders (authorization).

Question 25

Revenue Cycle

• Credit manager
– Approves customer credit on orders (authorization).

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (custody).

Answer 25

Revenue Cycle

• Credit manager
– Approves customer credit on orders (authorization).

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (custody).

Question 26

Revenue Cycle

• Warehouse clerk
– Holds goods in inv_______ awaiting requests for shipment (custody).

Answer 26

Revenue Cycle

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (custody).

Question 27

Revenue Cycle

• Warehouse clerk
– Holds g___s in inventory awaiting requests for shipment (custody).

Answer 27

Revenue Cycle

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (custody).

Question 28

Revenue Cycle

• Warehouse clerk
– H___s goods in inventory awaiting requests for shipment (custody).

Answer 28

Revenue Cycle

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (custody).

Question 29

Revenue Cycle

• Warehouse clerk
– Holds goods in inventory awaiting requests for ship____ (custody).

Answer 29

Revenue Cycle

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (custody).

Question 30

Revenue Cycle

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (cus____).

Answer 30

Revenue Cycle

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (custody).

Question 31

Revenue Cycle

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (custody).

• Shipping clerk
– Removes items from inventory to ship to customer (custody).

Answer 31

Revenue Cycle

• Warehouse clerk
– Holds goods in inventory awaiting requests for shipment (custody).

• Shipping clerk
– Removes items from inventory to ship to customer (custody).

Question 32

Revenue Cycle

• Shipping clerk
– Removes items from inv_______ to ship to customer (custody).

Answer 32

Revenue Cycle

• Shipping clerk
– Removes items from inventory to ship to customer (custody).

Question 33

Revenue Cycle

• Shipping clerk
– Removes items from inventory to sh__ to customer (custody).

Answer 33

Revenue Cycle

• Shipping clerk
– Removes items from inventory to ship to customer (custody).

Question 34

Revenue Cycle

• Shipping clerk
– Rem___s items from inventory to ship to customer (custody).

Answer 34

Revenue Cycle

• Shipping clerk
– Removes items from inventory to ship to customer (custody).

Question 35

Revenue Cycle

• Shipping clerk
– Removes items from inventory to ship to customer (cus____).

Answer 35

Revenue Cycle

• Shipping clerk
– Removes items from inventory to ship to customer (custody).

Question 36

Revenue Cycle

• Shipping clerk
– Removes items from inventory to ship to customer (custody).

• Billing clerk
– Prepares sales invoices to send to customers (recording).

Answer 36

Revenue Cycle

• Shipping clerk
– Removes items from inventory to ship to customer (custody).

• Billing clerk
– Prepares sales invoices to send to customers (recording).

Question 37

Revenue Cycle

• Billing clerk
– Prepares s___s invoices to send to customers (recording).

Answer 37

Revenue Cycle

• Billing clerk
– Prepares sales invoices to send to customers (recording).

Question 38

Revenue Cycle

• Billing clerk
– Prepares sales in_____es to send to customers (recording).

Answer 38

Revenue Cycle

• Billing clerk
– Prepares sales invoices to send to customers (recording).

Question 39

Revenue Cycle

• Billing clerk
– Pre____s sales invoices to send to customers (recording).

Answer 39

Revenue Cycle

• Billing clerk
– Prepares sales invoices to send to customers (recording).

Question 40

Revenue Cycle

• Billing clerk
– Prepares sales invoices to send to customers (re____ing).

Answer 40

Revenue Cycle

• Billing clerk
– Prepares sales invoices to send to customers (recording).

Question 41

Revenue Cycle

• Billing clerk
– Prepares sales invoices to send to customers (recording).

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Answer 41

Revenue Cycle

• Billing clerk
– Prepares sales invoices to send to customers (recording).

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Question 42

Revenue Cycle

• Receivables clerk
– Posts s___s and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Answer 42

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Question 43

Revenue Cycle

• Receivables clerk
– Posts sales and coll_______s to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Answer 43

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Question 44

Revenue Cycle

• Receivables clerk
– P___s sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Answer 44

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Question 45

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales in______s and remittance advices, respectively (recording).

Answer 45

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Question 46

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remit______ advices, respectively (recording).

Answer 46

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Question 47

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance ad___es, respectively (recording).

Answer 47

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Question 48

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (re____ing).

Answer 48

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Question 49

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

Answer 49

Revenue Cycle

• Receivables clerk
– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

Question 50

Revenue Cycle

• General ledger bookkeeper
– P___s journal entries for sales and collections (recording).

Answer 50

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

Question 51

Revenue Cycle

• General ledger bookkeeper
– Posts journal e___ies for sales and collections (recording).

Answer 51

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

Question 52

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for s___s and collections (recording).

Answer 52

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

Question 53

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and colle_____s (recording).

Answer 53

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

Question 54

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and collections (re____ing).

Answer 54

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

Question 55

Revenue Cycle

• General ledger book_______
– Posts journal entries for sales and collections (recording).

Answer 55

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

Question 56

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody).

Answer 56

Revenue Cycle

• General ledger bookkeeper
– Posts journal entries for sales and collections (recording).

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody).

Question 57

Revenue Cycle

• Mail room clerk/receptionist
– O___s mail containing customer checks (or cash) and remittance advices,

Answer 57

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,

Question 58

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer ch___s (or cash) and remittance advices,

Answer 58

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,

Question 59

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remit______ advices,

Answer 59

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,

Question 60

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prel___ of checks,

Answer 60

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,

Question 61

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
pre____s a prelist of checks,

Answer 61

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,

Question 62

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remit______ listing,

Answer 62

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remittance listing,

Question 63

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remittance listing, and
dir___s these items to appropriate parties within the system (custody).

Answer 63

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remittance listing, and
directs these items to appropriate parties within the system (custody).

Question 64

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remittance listing, and
directs these items to app_______ parties within the system (custody).

Answer 64

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remittance listing, and
directs these items to appropriate parties within the system (custody).

Question 65

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remittance listing, and
directs these items to appropriate parties with__ the system (custody).

Answer 65

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remittance listing, and
directs these items to appropriate parties within the system (custody).

Question 66

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remittance listing, and
directs these items to appropriate parties within the system (cus____).

Answer 66

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices,
prepares a prelist of checks,
referred to as a remittance listing, and
directs these items to appropriate parties within the system (custody).

Question 67

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody).

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Answer 67

Revenue Cycle

• Mail room clerk/receptionist
– Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody).

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Question 68

Revenue Cycle

• Cashier
– Rec____s checks, prepares deposit slip, and deposits funds at the bank (custody).

Answer 68

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Question 69

Revenue Cycle

• Cashier
– Receives checks, pre____s deposit slip, and deposits funds at the bank (custody).

Answer 69

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Question 70

Revenue Cycle

• Cashier
– Receives checks, prepares deposit s___, and deposits funds at the bank (custody).

Answer 70

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Question 71

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and dep____s funds at the bank (custody).

Answer 71

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Question 72

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the b___ (custody).

Answer 72

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Question 73

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (cus____).

Answer 73

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Question 74

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

Answer 74

Revenue Cycle

• Cashier
– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

Question 75

Revenue Cycle

Cash receipts clerk
– Receives remi_____ listing and posts to cash receipts journal (recording).

Answer 75

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

Question 76

Revenue Cycle

Cash receipts clerk
– Receives remittance l___ing and posts to cash receipts journal (recording).

Answer 76

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

Question 77

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and p___s to cash receipts journal (recording).

Answer 77

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

Question 78

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts jou____ (recording).

Answer 78

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

Question 79

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to c___ receipts journal (recording).

Answer 79

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

Question 80

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (re____ing).

Answer 80

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

Question 81

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

Answer 81

Revenue Cycle

Cash receipts clerk
– Receives remittance listing and posts to cash receipts journal (recording).

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

Question 82

Revenue Cycle

• Receiving clerk
– Rec____s all goods that are being returned and returns them to inventory (custody).

Answer 82

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

Question 83

Revenue Cycle

• Receiving clerk
– Receives a__ goods that are being returned and returns them to inventory (custody).

Answer 83

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

Question 84

Revenue Cycle

• Receiving clerk
– Receives all g___s that are being returned and returns them to inventory (custody).

Answer 84

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

Question 85

Revenue Cycle

• Receiving clerk
– Receives all goods that are being re____ed and returns them to inventory (custody).

Answer 85

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

Question 86

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inv_______ (custody).

Answer 86

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

Question 87

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (cus___).

Answer 87

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

Question 88

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

Answer 88

Revenue Cycle

• Receiving clerk
– Receives all goods that are being returned and returns them to inventory (custody).

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

Question 89

Revenue Cycle

• Treasurer
– Ap____es credit memos for returns and write-offs of uncollectible accounts (authorization).

Answer 89

Revenue Cycle

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

Question 90

Revenue Cycle

• Treasurer
– Approves credit m___s for returns and write-offs of uncollectible accounts (authorization).

Answer 90

Revenue Cycle

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

Question 91

Revenue Cycle

• Treasurer
– Approves credit memos for returns and w___e-offs of uncollectible accounts (authorization).

Answer 91

Revenue Cycle

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

Question 92

Revenue Cycle

• Treasurer
– Approves credit memos for returns and write-offs of unco________e accounts (authorization).

Answer 92

Revenue Cycle

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

Question 93

Revenue Cycle

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (auth________).

Answer 93

Revenue Cycle

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

Question 94

Revenue Cycle

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Answer 94

Revenue Cycle

• Treasurer
– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 95

Revenue Cycle

• Controller/Internal Audit
– B___ reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Answer 95

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 96

Revenue Cycle

• Controller/Internal Audit
– Bank reco________s and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Answer 96

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 97

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and ana____s of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Answer 97

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 98

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals inde_______ of cash receipts and disbursements (comparison).

Answer 98

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 99

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of c___ receipts and disbursements (comparison).

Answer 99

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 100

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disburs_____s (comparison).

Answer 100

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 101

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comp_____).

Answer 101

Revenue Cycle

• Controller/Internal Audit
– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 102

Revenue Cycle

This list should be reviewed simply to make sure you are comfortable with the meaning of each job title:

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Cash receipts clerk – (recording)
• Receiving clerk – (custody)
• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Answer 102

Revenue Cycle

This list should be reviewed simply to make sure you are comfortable with the meaning of each job title:

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Cash receipts clerk – (recording)
• Receiving clerk – (custody)
• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 103

Revenue Cycle

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Answer 103

Revenue Cycle

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Question 104

Revenue Cycle

• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)

Answer 104

Revenue Cycle

• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)

Question 105

Revenue Cycle

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Answer 105

Revenue Cycle

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 106

Revenue Cycle

• Cash receipts clerk – (recording)
• Receiving clerk – (custody)
• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Answer 106

Revenue Cycle

• Cash receipts clerk – (recording)
• Receiving clerk – (custody)
• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 107

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties.

This list should be reviewed simply to make sure you are comfortable with the meaning of each job title:

• Sales clerk – Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).
• Credit manager – Approves customer credit on orders (authorization).
• Warehouse clerk – Holds goods in inventory awaiting requests for shipment (custody).
• Shipping clerk – Removes items from inventory to ship to customer (custody).
• Billing clerk – Prepares sales invoices to send to customers (recording).
• Receivables clerk – Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).
• General ledger bookkeeper – Posts journal entries for sales and collections (recording).
• Mail room clerk/receptionist – Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody).
• Cashier – Receives checks, prepares deposit slip, and deposits funds at the bank (custody).
• Cash receipts clerk – Receives remittance listing and posts to cash receipts journal (recording).
• Receiving clerk – Receives all goods that are being returned and returns them to inventory (custody).
• Treasurer – Approves credit memos for returns and write-offs of uncollectible accounts (authorization).
• Controller/Internal Audit – Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Answer 107

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

The revenue cycle of a business consists of sales, billings, and collections.

In order to properly segregate the incompatible functions of authorization, recording, and custody, the activities may include specific employees with each of the following duties.

This list should be reviewed simply to make sure you are comfortable with the meaning of each job title:

• Sales clerk – Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).
• Credit manager – Approves customer credit on orders (authorization).
• Warehouse clerk – Holds goods in inventory awaiting requests for shipment (custody).
• Shipping clerk – Removes items from inventory to ship to customer (custody).
• Billing clerk – Prepares sales invoices to send to customers (recording).
• Receivables clerk – Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).
• General ledger bookkeeper – Posts journal entries for sales and collections (recording).
• Mail room clerk/receptionist – Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody).
• Cashier – Receives checks, prepares deposit slip, and deposits funds at the bank (custody).
• Cash receipts clerk – Receives remittance listing and posts to cash receipts journal (recording).
• Receiving clerk – Receives all goods that are being returned and returns them to inventory (custody).
• Treasurer – Approves credit memos for returns and write-offs of uncollectible accounts (authorization).
• Controller/Internal Audit – Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 108

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

A system may not necessarily include all of the above employees,

and sometimes a function may be per____ed by another employee or one of the above employees identified by a different title.

Answer 108

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

A system may not necessarily include all of the above employees,

and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

Question 109

Revenue Cycle

A system may n__ necessarily include all of the above employees,

and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

Answer 109

Revenue Cycle

A system may not necessarily include all of the above employees,

and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

Question 110

Revenue Cycle

A system may not necessarily include all of the above employees,

and sometimes a function may be performed by another employee or one of the above employees identified by a different ti___.

Answer 110

Revenue Cycle

A system may not necessarily include all of the above employees,

and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

Question 111

Revenue Cycle

A system may not necessarily include all of the above employees,

and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

For example, all of the c____s involved in recording may simply be called bookkeepers.

Answer 111

Revenue Cycle

A system may not necessarily include all of the above employees,

and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

For example, all of the clerks involved in recording may simply be called bookkeepers.

Question 112

Revenue Cycle

A system may not necessarily include all of the above employees,

and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

For example, all of the clerks involved in re____ing may simply be called bookkeepers.

Answer 112

Revenue Cycle

A system may not necessarily include all of the above employees,

and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

For example, all of the clerks involved in recording may simply be called bookkeepers.

Question 113

Revenue Cycle

Also, the sys___ will include periodic reconciliations, such as reconciling the bank account,

Answer 113

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

Question 114

Revenue Cycle

Also, the system will include periodic recon_______s, such as reconciling the bank account,

Answer 114

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

Question 115

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be per____ed by virtually any employee

Answer 115

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee

Question 116

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually a__ employee

Answer 116

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee

Question 117

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is n__ involved in the preparation

Answer 117

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation

Question 118

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the pre_______

Answer 118

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation

Question 119

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of re____s

Answer 119

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records

Question 120

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the t__ types of records being compared

Answer 120

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

Question 121

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being com___ed

Answer 121

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

Question 122

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does n__ have custody of resources

Answer 122

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources

Question 123

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does not have cus____ of resources

Answer 123

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources

Question 124

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being com____d to recorded amounts.

Answer 124

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 125

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to re____ed amounts.

Answer 125

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 126

Revenue Cycle

Also, the system will include peri_____ reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Answer 126

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee
who is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 127

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account, that may be performed by virtually any employee who is not involved in the preparation of either of the two types of records being compared and does not have custody of resources being compared to recorded amounts.

A key aspect of seg________ of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Answer 127

Revenue Cycle

Also, the system will include periodic reconciliations, such as reconciling the bank account, that may be performed by virtually any employee who is not involved in the preparation of either of the two types of records being compared and does not have custody of resources being compared to recorded amounts.

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 128

Revenue Cycle

A k__ aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Answer 128

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 129

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is resp_______ for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Answer 129

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 130

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for o__ of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Answer 130

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 131

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three func_____s (authorization, recording, custody)

should not be involved in either of the other two.

Answer 131

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 132

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (author_______, recording, custody)

should not be involved in either of the other two.

Answer 132

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 133

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, re____ing, custody)

should not be involved in either of the other two.

Answer 133

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 134

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, cus____)

should not be involved in either of the other two.

Answer 134

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 135

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be in____ed in either of the other two.

Answer 135

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 136

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other t__.

Answer 136

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 137

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should n__ be involved in either of the other two.

Answer 137

Revenue Cycle

A key aspect of segregation of duties is that

an employee who is responsible for one of the three functions (authorization, recording, custody)

should not be involved in either of the other two.

Question 138

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

A system may not necessarily include all of the above employees, and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

For example, all of the clerks involved in recording may simply be called bookkeepers.

Also, the system will include periodic reconciliations, such as reconciling the bank account, that may be performed by virtually any employee who is not involved in the preparation of either of the two types of records being compared and does not have custody of resources being compared to recorded amounts.

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Answer 138

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

A system may not necessarily include all of the above employees, and sometimes a function may be performed by another employee or one of the above employees identified by a different title.

For example, all of the clerks involved in recording may simply be called bookkeepers.

Also, the system will include periodic reconciliations, such as reconciling the bank account, that may be performed by virtually any employee who is not involved in the preparation of either of the two types of records being compared and does not have custody of resources being compared to recorded amounts.

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Question 139

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

Some of the documents and records that are commonly seen in the revenue cycle include the following.

Answer 139

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

Some of the documents and records that are commonly seen in the revenue cycle include the following.

Question 140

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

Some of the documents and records that are commonly seen in the revenue cycle include the following.

• Sales order – The list of goods ordered by the customer along with the prices to be charged. Even if a customer has submitted their own purchase order, a sales order will be prepared, since these are prenumbered and make it possible to periodically account for orders to be sure they were processed.
• Bill of lading – The shipping document that is signed by the carrier, often a trucker, accepting goods from the shipping clerk.
• Sales invoice – The bill that is prepared and sent to the customer after shipment to request payment. Before doing so, the billing clerk should compare the sales order and bill of lading to ensure they are in agreement.
• Sales register (journal) – A book in which sales invoice information is posted. Cash register records provide similar information for retail outlets and other cash businesses.
• Subsidiary receivables ledger – A book that lists the outstanding receivables with a separate record for each customer.
• Remittance advice – The document included in an envelope with the check or other form of payment to indicate the purpose of the check.
• Remittance listing – A summary of the money received that day. This may be called a prelist in some cases, and is prepared by the employee first receiving the cash, which is usually the mail room clerk.
• Cash receipts journal – A book in which the remittance listings are posted.
• Deposit slip – The document signed or stamped by the bank to acknowledge receipt of checks and that is periodically reconciled to postings into the cash receipts journal by an independent employee.
• Bank Reconciliation – Comparison of the cash balance according to the entity’s books to the amount indicated by the bank that it is holding on behalf of the entity (book to physical).

The purpose of most other documents and records can be determined by seeing the context in which they are being used on the exam.

Answer 140

Revenue Cycle
(Sales Revenue / Accounts Receivable / Cash Receipts)

Some of the documents and records that are commonly seen in the revenue cycle include the following.

• Sales order – The list of goods ordered by the customer along with the prices to be charged. Even if a customer has submitted their own purchase order, a sales order will be prepared, since these are prenumbered and make it possible to periodically account for orders to be sure they were processed.
• Bill of lading – The shipping document that is signed by the carrier, often a trucker, accepting goods from the shipping clerk.
• Sales invoice – The bill that is prepared and sent to the customer after shipment to request payment. Before doing so, the billing clerk should compare the sales order and bill of lading to ensure they are in agreement.
• Sales register (journal) – A book in which sales invoice information is posted. Cash register records provide similar information for retail outlets and other cash businesses.
• Subsidiary receivables ledger – A book that lists the outstanding receivables with a separate record for each customer.
• Remittance advice – The document included in an envelope with the check or other form of payment to indicate the purpose of the check.
• Remittance listing – A summary of the money received that day. This may be called a prelist in some cases, and is prepared by the employee first receiving the cash, which is usually the mail room clerk.
• Cash receipts journal – A book in which the remittance listings are posted.
• Deposit slip – The document signed or stamped by the bank to acknowledge receipt of checks and that is periodically reconciled to postings into the cash receipts journal by an independent employee.
• Bank Reconciliation – Comparison of the cash balance according to the entity’s books to the amount indicated by the bank that it is holding on behalf of the entity (book to physical).

The purpose of most other documents and records can be determined by seeing the context in which they are being used on the exam.

Question 141

The revenue cycle of a business consists of
_____,
billings, and
collections.

Answer 141

The revenue cycle of a business consists of
sales,
billings, and
collections.

Question 142

The revenue cycle of a business consists of
sales,
_____, and
collections.

Answer 142

The revenue cycle of a business consists of
sales,
billings, and
collections.

Question 143

The revenue cycle of a business consists of
sales,
billings, and
_________.

Answer 143

The revenue cycle of a business consists of
sales,
billings, and
collections.

Question 144

The ________ cycle of a business consists of
sales,
billings, and
collections.

Answer 144

The revenue cycle of a business consists of
sales,
billings, and
collections.

Question 145

The revenue cycle of a _________ consists of sales, billings, and collections.

Answer 145

The revenue cycle of a business consists of sales, billings, and collections.

Question 146

In order to properly __________ the incompatible functions of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Answer 146

In order to properly segregate the incompatible functions of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Question 147

In order to properly segregate the incompatible functions of

____________,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Answer 147

In order to properly segregate the incompatible functions of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Question 148

In order to properly segregate the incompatible functions of

authorization,
________, and
custody,

the activities may include specific employees with each of the different duties.

Answer 148

In order to properly segregate the incompatible functions of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Question 149

In order to properly segregate the incompatible functions of

authorization,
recording, and
______,

the activities may include specific employees with each of the different duties.

Answer 149

In order to properly segregate the incompatible functions of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Question 150

In order to properly segregate the incompatible __________ of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Answer 150

In order to properly segregate the incompatible functions of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Question 151

In order to properly segregate the ___________ functions of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Answer 151

In order to properly segregate the incompatible functions of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Question 152

In order to properly segregate the incompatible functions of

____________,
_________, and
_______,

the activities may include specific employees with each of the different duties.

Answer 152

In order to properly segregate the incompatible functions of

authorization,
recording, and
custody,

the activities may include specific employees with each of the different duties.

Question 153

What is the job title that the paragraph below described?

“Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison)”

• C__________ / I_________ A____

Answer 153

• Controller/Internal Audit

– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 154

What is the job title that the paragraph below described?

“Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison)”

Answer 154

• Controller/Internal Audit

– Bank reconciliations and analyses of past-due accounts receivable should be performed by individuals independent of cash receipts and disbursements (comparison).

Question 155

What is the job title that the paragraph below described?

“Approves credit memos for returns and write-offs of uncollectible accounts (authorization).”

Answer 155

• Treasurer

– Approves credit memos for returns and write-offs of uncollectible accounts (authorization).

Question 156

What is the job title that the paragraph below described?

“Receives all goods that are being returned and returns them to inventory (custody).”

Answer 156

• Receiving clerk

– Receives all goods that are being returned and returns them to inventory (custody).

Question 157

What is the job title that the paragraph below described?

“Receives remittance listing and posts to cash receipts journal (recording).”

Answer 157

• Cash receipts clerk

– Receives remittance listing and posts to cash receipts journal (recording).

Question 158

What is the job title that the paragraph below described?

“Receives checks, prepares deposit slip, and deposits funds at the bank (custody).”

Answer 158

• Cashier

– Receives checks, prepares deposit slip, and deposits funds at the bank (custody).

Question 159

What is the job title that the paragraph below described?

“Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody)”

Answer 159

• Mail room clerk
/ Receptionist

– Opens mail containing customer checks (or cash) and remittance advices, prepares a prelist of checks, referred to as a remittance listing, and directs these items to appropriate parties within the system (custody).

Question 160

What is the job title that the paragraph below described?

“Posts journal entries for sales and collections (recording).”

Answer 160

• General ledger bookkeeper

– Posts journal entries for sales and collections (recording).

Question 161

What is the job title that the paragraph below described?

“Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).”

Answer 161

• Receivables clerk

– Posts sales and collections to individual customer accounts based on sales invoices and remittance advices, respectively (recording).

Question 162

What is the job title that the paragraph below described?

“Prepares sales invoices to send to customers (recording).”

Answer 162

• Billing clerk

– Prepares sales invoices to send to customers (recording).

Question 163

What is the job title that the paragraph below described?

“Removes items from inventory to ship to customer (custody).”

Answer 163

• Shipping clerk

– Removes items from inventory to ship to customer (custody).

Question 164

What is the job title that the paragraph below described?

“Holds goods in inventory awaiting requests for shipment (custody).”

Answer 164

• Warehouse clerk

– Holds goods in inventory awaiting requests for shipment (custody).

Question 165

What is the job title that the paragraph below described?

“Approves customer credit on orders (authorization).”

Answer 165

• Credit manager

– Approves customer credit on orders (authorization).

Question 166

What is the job title that the paragraph below described?

“Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).”

Answer 166

• Sales clerk

– Accepts orders from customers and prepares written sales orders using internal prenumbered, preprinted forms (PPN) (recording).

Question 167

All of the clerks involved in recording may simply be called ______________.

Answer 167

All of the clerks involved in recording may simply be called bookkeepers.

Question 168

Also, the system will include periodic _____________, such as reconciling the bank account,

Answer 168

Also, the system will include periodic reconciliations, such as reconciling the bank account,

Question 169

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually ___ employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Answer 169

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 170

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the ___________ of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Answer 170

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 171

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the ___ types of records being compared

and does not have custody of resources being compared to recorded amounts.

Answer 171

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 172

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of _______ being compared

and does not have custody of resources being compared to recorded amounts.

Answer 172

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 173

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being _________

and does not have custody of resources being compared to recorded amounts.

Answer 173

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 174

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is ___ involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Answer 174

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 175

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does ___ have custody of resources being compared to recorded amounts.

Answer 175

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 176

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have _______ of resources being compared to recorded amounts.

Answer 176

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 177

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to _________ amounts.

Answer 177

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 178

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being _________ to recorded amounts.

Answer 178

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 179

Also, the _______ will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Answer 179

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 180

Also, the system will include _______ reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Answer 180

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 181

Also, the system will include periodic reconciliations, such as reconciling the ____ account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Answer 181

Also, the system will include periodic reconciliations, such as reconciling the bank account,

that may be performed by virtually any employee who

is not involved in the preparation of either of the two types of records being compared

and does not have custody of resources being compared to recorded amounts.

Question 182

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (___________, __________, _________) should not be involved in either of the other two.

Answer 182

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Question 183

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an __________ who is responsible for ___ of the three functions (authorization, recording, custody) should not be ________ in either of the other two.

Answer 183

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Question 184

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other ___.

Answer 184

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Question 185

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is ___________ for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Answer 185

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Question 186

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should ________________ in either of the other two.

Answer 186

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Question 187

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an ________________________ one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Answer 187

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Question 188

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should __________________ of the other two.

Answer 188

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Question 189

What is a key aspect of segregation of duties?

Answer 189

What is a key aspect of segregation of duties?

A key aspect of segregation of duties is that an employee who is responsible for one of the three functions (authorization, recording, custody) should not be involved in either of the other two.

Question 190

Job Titles

• Sales _____ – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Answer 190

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Question 191

Job Titles

• _____ clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Answer 191

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Question 192

Job Titles

• Sales clerk – (________)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Answer 192

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Question 193

Job Titles

• Sales clerk – (recording)
• ______ manager – (authorization)
• Warehouse clerk – (custody)

Answer 193

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Question 194

Job Titles

• Sales clerk – (recording)
• Credit manager – (____________)
• Warehouse clerk – (custody)

Answer 194

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Question 195

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse ______ – (custody)

Answer 195

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Question 196

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (_________)

Answer 196

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)

Question 197

Job Titles

• Shipping _____– (custody)
• Billing _____ – (recording)
• Receivables _____ – (recording)

Answer 197

Job Titles

• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)

Question 198

Job Titles

• Shipping clerk – (_______)
• Billing clerk – (recording)
• Receivables clerk – (recording)

Answer 198

Job Titles

• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)

Question 199

Job Titles

• Shipping clerk – (custody)
• Billing clerk – (________)
• Receivables clerk – (recording)

Answer 199

Job Titles

• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)

Question 200

Job Titles

• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (_________)

Answer 200

Job Titles

• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)

Question 201

Job Titles

• General _______ bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Answer 201

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 202

Job Titles

• _________ ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Answer 202

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 203

Job Titles

• General ledger ____________ – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Answer 203

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 204

Job Titles

• General ledger bookkeeper – (recording)
• Mail _____ clerk/receptionist – (custody)
• Cashier – (custody)

Answer 204

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 205

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/ __________ – (custody)
• Cashier – (custody)

Answer 205

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 206

Job Titles

• General ledger bookkeeper – (recording)
• ____ room clerk/receptionist – (custody)
• C_______ – (custody)

Answer 206

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 207

Job Titles

• General ledger bookkeeper – (_________)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Answer 207

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 208

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (_______)
• Cashier – (custody)

Answer 208

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 209

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (_______)

Answer 209

Job Titles

• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)

Question 210

Job Titles

• ____ receipts clerk – (recording)
• Receiving clerk – (custody)

Answer 210

Job Titles

• Cash receipts clerk – (recording)
• Receiving clerk – (custody)

Question 211

Job Titles

• Cash ________ clerk – (recording)
• Receiving clerk – (custody)

Answer 211

Job Titles

• Cash receipts clerk – (recording)
• Receiving clerk – (custody)

Question 212

Job Titles

• Cash receipts _____ – (recording)
• Receiving clerk – (custody)

Answer 212

Job Titles

• Cash receipts clerk – (recording)
• Receiving clerk – (custody)

Question 213

Job Titles

• Cash receipts clerk – (recording)
• _________ clerk – (custody)

Answer 213

Job Titles

• Cash receipts clerk – (recording)
• Receiving clerk – (custody)

Question 214

Job Titles

• Cash receipts clerk – (recording)
• Receiving ____ – (custody)

Answer 214

Job Titles

• Cash receipts clerk – (recording)
• Receiving clerk – (custody)

Question 215

Job Titles

• Cash receipts clerk – (_________)
• Receiving clerk – (custody)

Answer 215

Job Titles

• Cash receipts clerk – (recording)
• Receiving clerk – (custody)

Question 216

Job Titles

• Cash receipts clerk – (recording)
• Receiving clerk – (________)

Answer 216

Job Titles

• Cash receipts clerk – (recording)
• Receiving clerk – (custody)

Question 217

Job Titles

• T_________ – (authorization)
• Controller/Internal Audit – (comparison)

Answer 217

Job Titles

• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 218

Job Titles

• Treasurer – (authorization)
• C________ /Internal Audit – (comparison)

Answer 218

Job Titles

• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 219

Job Titles

• Treasurer – (authorization)
• _________ /Internal Audit – (comparison)

Answer 219

Job Titles

• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 220

Job Titles

• ____________– (authorization)
• Controller/Internal Audit – (comparison)

Answer 220

Job Titles

• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 221

Job Titles

• Treasurer – (authorization)
• Controller/ __________ Audit – (comparison)

Answer 221

Job Titles

• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 222

Job Titles

• Treasurer – (authorization)
• Controller/Internal ____– (comparison)

Answer 222

Job Titles

• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 223

Job Titles

• Treasurer – (____________)
• Controller/Internal Audit – (comparison)

Answer 223

Job Titles

• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 224

Job Titles

• Treasurer – (authorization)
• Controller/Internal Audit – (___________)

Answer 224

Job Titles

• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 225

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Cash receipts clerk – (recording)
• Receiving clerk – (custody)
• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Answer 225

Job Titles

• Sales clerk – (recording)
• Credit manager – (authorization)
• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Cash receipts clerk – (recording)
• Receiving clerk – (custody)
• Treasurer – (authorization)
• Controller/Internal Audit – (comparison)

Question 226

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash receipts clerk – (recording)

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Receiving clerk – (custody)

Authorization

• Credit manager – (authorization)
• Treasurer – (authorization)

Comparison

• Controller/Internal Audit – (comparison)

Answer 226

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash receipts clerk – (recording)

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Receiving clerk – (custody)

Authorization

• Credit manager – (authorization)
• Treasurer – (authorization)

Comparison

• Controller/Internal Audit – (comparison)

Question 227

Recording

• Sales _____– (recording)
• Billing _____– (recording)
• Receivables ______– (recording)
• General ledger bookkeeper – (recording)
• Cash receipts _____– (recording)

Answer 227

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash receipts clerk – (recording)

Question 228

Recording

• S______ clerk – (recording)
• B______ clerk – (recording)
• R_________ clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash receipts clerk – (recording)

Answer 228

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash receipts clerk – (recording)

Question 229

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• G_______ l_______ bookkeeper – (recording)
• Cash receipts clerk – (recording)

Answer 229

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash receipts clerk – (recording)

Question 230

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger ____________– (recording)
• Cash receipts clerk – (recording)

Answer 230

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash receipts clerk – (recording)

Question 231

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• C____ receipts clerk – (recording)

Answer 231

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash receipts clerk – (recording)

Question 232

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash ________ clerk – (recording)

Answer 232

Recording

• Sales clerk – (recording)
• Billing clerk – (recording)
• Receivables clerk – (recording)
• General ledger bookkeeper – (recording)
• Cash receipts clerk – (recording)

Question 233

Custody

• Warehouse _____ – (custody)
• Shipping _____ – (custody)
• Mail room ______ /receptionist – (custody)
• Cashier – (custody)
• Receiving _____ – (custody)

Answer 233

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Receiving clerk – (custody)

Question 234

Custody

• W________ clerk – (custody)
• S________ clerk – (custody)
• M___ room clerk/receptionist – (custody)
• Cashier – (custody)
• Receiving clerk – (custody)

Answer 234

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Receiving clerk – (custody)

Question 235

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• R________ clerk – (custody)

Answer 235

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Receiving clerk – (custody)

Question 236

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail r____ clerk/r__________ – (custody)
• Cashier – (custody)
• Receiving clerk – (custody)

Answer 236

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Receiving clerk – (custody)

Question 237

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail room clerk/receptionist – (custody)
• C_____ – (custody)
• Receiving clerk – (custody)

Answer 237

Custody

• Warehouse clerk – (custody)
• Shipping clerk – (custody)
• Mail room clerk/receptionist – (custody)
• Cashier – (custody)
• Receiving clerk – (custody)

Question 238

Authorization

• Credit m________ – (authorization)
• Treasurer – (authorization)

Answer 238

Authorization

• Credit manager – (authorization)
• Treasurer – (authorization)

Question 239

Authorization

• Credit manager – (authorization)
• T__________ – (authorization)

Answer 239

Authorization

• Credit manager – (authorization)
• Treasurer – (authorization)

Question 240

Authorization

• C_____ manager – (authorization)
• Treasurer – (authorization)

Answer 240

Authorization

• Credit manager – (authorization)
• Treasurer – (authorization)

Question 241

Comparison

• C_________/Internal Audit – (comparison)

Answer 241

Comparison

• Controller/Internal Audit – (comparison)

Question 242

Comparison

• Controller/I_______ Audit – (comparison)

Answer 242

Comparison

• Controller/Internal Audit – (comparison)

Question 243

Comparison

• Controller/Internal A____ – (comparison)

Answer 243

Comparison

• Controller/Internal Audit – (comparison)

Question 244

Comparison

• ________/_______________ – (comparison)

Answer 244

Comparison

• Controller/Internal Audit – (comparison)