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The following are typical questions that might appear on an internal control questionnaire for accounts...

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Accounting

The following are typical questions that might appear on an internal control questionnaire for accounts receivable.

  1. Are sales invoices checked for proper pricing, terms, and clerical accuracy?
  2. Are shipping documents prenumbered and all numbers accounted for?
  3. Is customer credit approval obtained from the credit department prior to shipment of goods?

Required:

Describe the manner in which the operating effectiveness of each of the above procedures might be tested.

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