Question

If you place a control that the computer checks run-to-run total of beginning receivables, plus sales...

If you place a control that the computer checks run-to-run total of beginning receivables, plus sales transactions with the sum of ending receivables, which of the following risks will you be addressing?

A. Invoices not journalized or posted to customer accounts

B. Sales invoices recorded in the incorrect accounting period

C. Products shipped without shipping documents being generated

D. Sale made without credit approval
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Answer #1

If you place control that the computer checks run to run tital of beginning receivables plus sales transactions with the ending account receivable the following risk can be addressed :-

Any sales which are having single side entry in the books of accounts

That means giving the effect if debit or credit and not giving the effect of the credit or debit of a particular sale.

The partial recorded or partial omitted entry or transaction will address the risk of following above audit procedure using computer.

So the answer is option A.

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