The following is a list of 10 control plans and ten statements describing either
ID: 2518105 • Letter: T
Question
The following is a list of 10 control plans and ten statements describing either the achievement of a control goal j.e., a system success) or a system deficiency .e., a system failure). Match the letter of the best control plan to achieve the desired goal or to address the system deficiency described. A letter should be used only once. Helps to ensure that all shipments are billed in a timely manner. This feature can be used to help prevent duplicate document numbers from entering the system b. Immediately separate checks and remittance advices to ensure input validity Helps to ensure the validity of shipping notices. Ensures efficient employment of resources and remittance advice input accuracy. c. Immediately endorse incoming checks d. Review shipped not billed sales orders (tickler file) e. Document design f. Turnaround documents g. Monitor open accounts receivable h. One-for-one checking of deposit slip and checks i. Compare input shipping notice to sales order master data # Helps optimize cash flows, solve biling and cash receipts processing problems, and ensure that the organization complies with compensating balance requirements of loan agreements with its bank. Helps to ensure the security of resources (prevent fraudulent appropriation) Helps ensure remittance advice input validity, completeness and accuracy. Ensures that the items and quantities shipped are the same as the items and quantities on the - sales order. Should have precluded a field salesman from omitting the sales terms from the sales order, - thereby causing the order to be rejected by the computer data entry personnel. Reduces opportunities for lapping -Explanation / Answer
1. b. Immediately separate checks and remittance advices
2. h. One-for-one checking of deposit slip and checks
3. a. Independent billing authorization
4. i. Compare input shipping notice to sales order master data
5. e. Document design
6. f. Turnaround documents
7. c. Immediately endorse incoming checks
8. d. Review shipped not billed sales order (tickler file)
9. g. Monitor open accounts receivable
10. j. Prenumbered documents
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