All of the following are important controls over credit memos except:
A)proper segregation of duties to ensure that sales discounts taken were earned.
B)credit memos should be approved by someone other than whoever initiated it.
C)credit memos should be supported by a receiving document for returned goods.
D)proper segregation of duties between access to customer records and authorizing credit memos.

Question

Quizplus · Accepted Answer

While proper segregation of duties is important, this control specifically addresses sales discounts taken, not credit memos. Therefore, choice A is not an important control over credit memos. Choices B, C, and D are all important controls over credit memos.

All of the Following Are Important Controls Over Credit Memos