During the year Strang Corporation began to encounter cash-flow diffi- culties, and a cursory review by management

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During the year Strang Corporation began to encounter cash-flow diffi- culties, and a cursory review by management revealed receivable collec- tion problems. Strang's management engaged Stanley, CPA, to perform a special investigation. Stanley studied the billing and collection process and noted the following: The accounting department employs one bookkeeper, who receives and opens all incoming mail. This bookkeeper is also responsible for depositing receipts, filing remittance advices on a daily basis, recording?L-987

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Auditing And Assurance Services A Systematic Approach

ISBN: 9780073337203

5th Edition

Authors: William Messier, Steven Glover, Douglas Prawitt

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