a. What activities are accounted for in the sales / collection process?
b. What are the steps in the sales / collection process?
c. How are the five generic elements of the AIS exemplified in the sales / collection process?
d. What recordable transactions are commonly associated with the sales / collection process? How are they recorded in the AIS?
e. What internal controls do organizations use in the sales / collection process? What risks do they address?
f. Respond to the questions for this chapter’s “AIS in the Business World.”