ACCT 451 WEEK 4 HOMEWORK – DEVRY
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ACCT 451 WEEK 4 HOMEWORK – DEVRY
12.6 Create a questionnaire checklist
that can be used to evaluate controls for each of the four basic activities in
the revenue cycle (sales order entry, shipping, billing, and cash collections).
a.
For each control issue, write a Yes/No question such that a “No” answer
represents a control weakness. For example, one question might be “Are customer
credit limits set and modified by a credit manager with no sales
responsibility?
13.5
Use Table 13-2 to create a questionnaire checklist that can be used to evaluate
controls for each of the basic activities in the expenditure cycle (ordering
goods, receiving, approving supplier invoices, and cash disbursements).
a.
For each control issue, write a Yes/No question such that a “No” answer
represents a control weakness. For example, one question might be “Are
supporting documents, such as purchase orders and receiving reports, marked
“paid” when a check is issued to the vendor?”
b.
For each Yes/No question, write a brief explanation of why a “No” answer
represents a control weakness.
”For each Yes/No question, write
a brief explanation of why a “No” answer represents a control weakness.
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