To provide an adequate separation of functions in the accounts receivable business process,maintaining the accounts receivable control account should be the responsibility of
A) billing.
B) accounts receivable.
C) cash receipts.
D) general ledger.

Question

Quizplus · Accepted Answer

The general ledger should be responsible for maintaining the accounts receivable control account, as it ensures an appropriate separation of functions and minimizes the risk of errors or fraud. Billing, accounts receivable, and cash receipts may all play a role in the accounts receivable process, but the control account should be overseen by a separate department to ensure proper internal controls.

To Provide an Adequate Separation of Functions in the Accounts