1. A comparison of checks listed on a sample of deposit slips to the detail of customer credits posted to customer accounts receivable can be an audit test for lapping

True

False

2. The aging information for accounts receivable is typically used in connection with assessing the allowance for doubtful accounts

True

False

3. Credit checks should be performed by the sales department before credit is approved.

True

False

4. The accountants who record cash receipts and credits to customer accounts should not handle the cash.

True

False

5. A price list master file contains the product unit prices that are used for billing customers.

True

False