-Hallo friends, Learn Accounting Coach,
in the article you read this time with the title Chapter 14: Audit Of The Sales And Collection Cycle: Test Of Controls And Substantive Tests Of Transactions Flashcards By Kia Rainey Uncollectible Account Authorization Form, we have prepared this article well for you to read and retrieve the information therein. Hopefully the content of article posts Accounting, which we write this you can understand. Alright, happy reading.
Title : Chapter 14: Audit Of The Sales And Collection Cycle: Test Of Controls And Substantive Tests Of Transactions Flashcards By Kia Rainey Uncollectible Account Authorization Form
link : Chapter 14: Audit Of The Sales And Collection Cycle: Test Of Controls And Substantive Tests Of Transactions Flashcards By Kia Rainey Uncollectible Account Authorization Form
Chapter 14: Audit Of The Sales And Collection Cycle: Test Of Controls And Substantive Tests Of Transactions Flashcards By Kia Rainey Uncollectible Account Authorization Form
Hi, bertemu kembali, di kesempatan akan membahas tentang uncollectible account authorization form Chapter 14: Audit of the Sales and Collection Cycle: Test of Controls and Substantive Tests of Transactions Flashcards by Kia Rainey simak selengkapnya
Which about the subsequent is an report that is notaffected by the sales and accumulation cycle?
A) cash
B) accounts receivable
C) allowance for doubtful accounts
D) accounts payable
The auditor's objectives for the sales and cash collections activities when the client is primarily an e-commerce trade as compared to a "brick and mortar" trade are
A) unchanged.
B) expanded.
C) mitigated.
D) decreased.
The overall objective inside the audit about the sales and accumulation series of events is to evaluate whether the report balances affected by the series of events are objectively presented inside accordance with accounting standards.
TRUE OR FALSE
The sales and accumulation series of events applies to businesses that sell merchandise to customers or provide services to customers.
TRUE OR FALSE
Which about the subsequent is notone about the five classes about transactions included inside the sales and accumulation cycle?
A) sales returns and allowances
B) write-off about uncollectible accounts
C) bad debt expense
D) interest income
What event initiates a transaction inside the sales and accumulation cycle?
A) receipt about cash
B) delivery about product to a customer
C) identification about a new customer
D) client apply for for merchandise or services
D) client apply for for merchandise or services
A ________ is a paper that indicates a apply for for merchandise by a customer.
A) sales invoice
B) vendor invoice
C) client order
D) sales order
A ________ is a paper for communicating the description, quantity, and related information for merchandise ordered by a customer.
A) sales order
B) client order
C) vendor invoice
D) sales invoice
What crucial event must grip place ahead of merchandise can be present shipped inside instruct to assure remittance can be present reasonably expected?
A) determination about correct delivery address
B) credit approval
C) matching about shipping paper with sales invoice
D) receipt about sales instruct from the customer
Before merchandise are shipped on account, a properly authorized person must
A) prepare the sales invoice.
B) approve the journal entry.
C) approve the customer's credit.
D) verify that the unit price is accurate.
C) approve the customer's credit.
One type about shipping paper is the ________, which is a written contract between the carrier and the seller about the receipt and shipment about goods.
A) sales order
B) bill about lading
C) sales invoice
D) client order
The paper worn to indicate to the client the quantity about a sale and remittance due day is the
A) sales invoice.
B) bill about lading.
C) purchase order.
D) sales order.
Which about the subsequent is notan critical aspect about billing?
A) All shipments made have been billed.
B) No shipment has been billed more than once.
C) Each client is billed for the proper amount.
D) Credit is approved to customers for sales on account.
D) Credit is approved to customers for sales on account.
Most companies recognize sales revenue when
A) sales are invoiced.
B) remittance is received from the customer.
C) merchandise are shipped.
D) the customer's instruct is received.
Which about the subsequent is nota trade function within the "Sales" form about transactions?
A) processing client orders
B) granting credit
C) processing and recording sales returns and allowances
D) shipping goods
C) processing and recording sales returns and allowances
The total about the individual report balances inside the accounts receivable ruler file should equal the
A) total sales for the period.
B) stabilize about the sales report inside the general ledger.
C) total sales less the total cash received for the period.
D) stabilize about the accounts receivable report inside the general ledger.
D) stabilize about the accounts receivable report inside the general ledger.
In the accounts receivable ruler file, the length about time the report has been due can be present effective to the client and the auditor inside preparing the
A) trial balance.
B) working trial balance.
C) accounts receivable trial balance.
D) aged accounts receivable trial balance.
D) aged accounts receivable trial balance.
A paper sent to every single client showing his or her beginning accounts receivable stabilize and the quantity and day about every single sale, cash remittance received, any debit or credit memo issued, and the ending stabilize is the
A) accounts receivable subsidiary ledger.
B) monthly statement.
C) remittance advice.
D) sales invoice.
The paper that accompanies the customer's remittance is the
A) credit memo.
B) remittance advice.
C) vendor invoice.
D) monthly statement.
A ________ indicates a reduction inside the quantity due from a client because about returned merchandise or an allowance.
A) bill about lading
B) sales invoice
C) credit memo
D) monthly statement
A ________ is a list prepared when cash is received by someone who has no responsibility for recording sales, accounts receivable, or cash, and who has no access to the accounting records.
A) prelisting about cash receipts.
B) sales invoice.
C) packing ticket.
D) vendor invoice.
A) prelisting about cash receipts.
When dealing with the processing and recording about cash receipts,
A) the most critical anxiety is the theft about cash.
B) theft can only occur ahead of the receipts are entered into the records.
C) cash receipts should be present deposited at least monthly.
D) the monthly statement is worn to prepare the cash receipts journal.
A) the most critical anxiety is the theft about cash.
Some companies have customers dispatch payments directly to an address maintained by a bank. This is called a(n) ________ system.
A) aim deposit
B) funds transfer
C) lockbox
D) interbank transfer
Which about the subsequent is a trade function related to sales returns and allowances?
A) processing client orders
B) script off uncollectible accounts
C) processing and recording credit memos
D) granting credit
C) processing and recording credit memos
For a firm that practices good internal controls inside the sales and collections cycle, the function about indicating credit consent should be present recorded on which about the subsequent documents?
A) sales order
B) sales invoice
C) client order
D) remittance advice
Which paper or record is worn inside the write-off about uncollectible accounts classes about transactions?
A) general journal
B) remittance advice
C) sales transaction file
D) sales order
Who is generally responsible for opening receipts when a company uses a lockbox to rate the handling about cash receipts?
A) company personnel
B) temporary employees inside the town where the lockbox is located
C) bank employees
D) company controller
Which about the subsequent is a correct statement regarding the shipment about goods?
A) The shipping paper must be present inside paper form.
B) The shipping paper is worn to bring up to date the perpetual list records.
C) Only only copy about the shipping paper is needed.
D) All about the above are correct statements.
B) The shipping paper is worn to bring up to date the perpetual list records.
Which accounts are complex inside the sales form about transactions?
A) accounts receivable and sales returns and allowances
B) cash and allowance for uncollectible accounts
C) sales allowances and accounts receivable
D) accounts receivable and sales
D) accounts receivable and sales
A sales charge is a paper that usually indicates credit approval.
TRUE OR FALSE
begitulah penjelasan mengenai Chapter 14: Audit of the Sales and Collection Cycle: Test of Controls and Substantive Tests of Transactions Flashcards by Kia Rainey semoga info ini menambah wawasan terima kasih
Artikel ini diposting pada kategori , tanggal 22-11-2021, di kutip dari https://www.brainscape.com/flashcards/chapter-14-audit-of-the-sales-and-collec-7033582/packs/11097322
Thus the article Chapter 14: Audit Of The Sales And Collection Cycle: Test Of Controls And Substantive Tests Of Transactions Flashcards By Kia Rainey Uncollectible Account Authorization Form
You now read the article Chapter 14: Audit Of The Sales And Collection Cycle: Test Of Controls And Substantive Tests Of Transactions Flashcards By Kia Rainey Uncollectible Account Authorization Form With the link address https://learnaccountingcoach.blogspot.com/2021/11/chapter-14-audit-of-sales-and.html
