Indicate whether each of the following statements is (i) always true, (ii) sometimes true, or (iii) never
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a. A junction table would be required in a relational database for the sales/collection process.
b. Cash receipts clerks should reconcile a company’s bank statement at least monthly.
c. Companies complete all activities in the value chain to serve their stakeholders.
d. Customers should borrow money to take advantage of cash discounts in paying their bills.
e. Documents in the sales/collection process can be paper or electronic.
f. In the sales/collection process, separation of duties can be applied to credit decisions.
g. Restrictive check endorsements eliminate the need for other internal controls over cash.
h. Separation of duties helps safeguard inventory in the sales/collection process.
i. Transactions in the sales/collection process require a bill of lading.
j. Web sites assist companies in the sales/collection process.
Stakeholders
A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees,...
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Related Book For
Accounting Information Systems basic concepts and current issues
ISBN: 978-0078025334
3rd edition
Authors: Robert Hurt
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