Good internal controls in the revenue cycle should ensure all of the following except
A)all sales are profitable
B)all sales are recorded
C)credit is authorized
D)inventory to be shipped is not stolen

Question

Quizplus · Accepted Answer

Ensuring that all sales are profitable is a responsibility of management and not an internal control measure. Internal controls in the revenue cycle should focus on ensuring that all sales are recorded accurately, credit is properly authorized, and inventory is not stolen or misappropriated.

Good Internal Controls in the Revenue Cycle Should Ensure All