Which of the following internal control activities most likely would ensure that all billed sales are correctly posted to the accounts receivable ledger?
A. Each sales invoice is supported by a prenumbered shipping document.
B. Each shipment on credit is supported by a prenumbered sales invoice.
C. Daily sales summaries are compared to daily postings to the accounts receivable ledger.
D. The accounts receivable ledger is reconciled daily to the control account in the general ledger.
Answer: C
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Credibility of the information being presented can be established by
a. using quotes. b. using statistics. c. using personal examples. d. listing or mentioning the sources
A registration statement need not contain details on how the proceeds from the offering will be used
Indicate whether the statement is true or false
Honoring a note receivable indicates that the maker has:
A. Guaranteed. B. Cosigned. C. Signed. D. Paid in full. E. Notarized.
Ali Mulhammed has been working for a producer of video games that sell through toy wholesalers to retailers. He knows all about the games sold by his company and by competitors. He goes into his wholesalers' territories and tries to get local retailer customers interested in the company's line and even trains retailers to demonstrate the games. When a retailer is ready to buy, Ali turns the business over to the wholesaler's sales rep. Ali is a
A. technical specialist. B. manufacturers' agent. C. member of the firm's major accounts sales force. D. missionary salesperson. E. None of these answers is correct.