With regard to segregation of duties, rule one is that transaction authorization and transaction processing should be separated. What does this require in the revenue cycle?
Within the revenue cycle, the credit department is separate from the rest of the process. Hence, the authorization of the transaction (granting of credit) is independent. If other people, e.g., sales staff, were able to authorize credit sales, there would be the temptation to approve sales to any customer, even those known to not be credit worthy.
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With a substantive audit strategy, what is an auditor likely to do?
a. Extensively tests internal controls. b. Limit the testing of internal controls. c. Not assess control risks. d. Issue an adverse opinion on the financial statements.
The physical layout of workspaces, dress codes, and the level of technology used are all examples of ________ that are represented by the organization's culture.
A. operational capacity B. observable artifacts C. personal dynamics D. cultural diversity E. core values
A criminal offense that is less serious than a felony is a:
a. misdemeanor b. tort c. defamation d. medical malpractice e. breach of contract
An attribute (or attributes) that uniquely identifies each row in a relation is called a:
A) column. B) foreign field. C) primary key. D) duplicate key.