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Which of the following would be a step in an internal control program? Obtain an aged trial balance of the accounts receivable. Read sales contracts
Which of the following would be a step in an internal control program?
Obtain an aged trial balance of the accounts receivable. | |
Read sales contracts for evidence of customers' rights of return or price allowance terms. | |
Prepare and send confirmations on a sample of customers' accounts receivable. | |
Assess the control risk for sales and collections. |
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