For good internal control over customer remittances, the mailroom clerk should separate the checks from the remittance advises and send the customer payments to which department?

For good internal control over customer remittances, the mailroom clerk should separate the checks from the remittance advises and send the customer payments to which department?

a. billing
b. accounts receivable
c. cashier
d. sales

Answer: C

For good internal control, who should approve credit memos?

For good internal control, who should approve credit memos?

a. credit manager
b. sales manager
c. billing manager
d. controller

Answer: A

Which of the following provides a means to both improve the efficiency of processing customer payments and also enhance control over those payments?

Which of the following provides a means to both improve the efficiency of processing customer payments and also enhance control over those payments?

a. CRM
b. lockboxes
c. aging accounts receivable
d. EDI

Answer: B

Which document is used to authorize the release of merchandise from the inventory control?

Which document is used to authorize the release of merchandise from the inventory control?

a. picking ticket
b. packing slip
c. shipping order
d. sales invoice

Answer: A