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AUE1501 Assignment 4 Semester 2 2023 (SOLUTIONS) $2.80
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AUE1501 Assignment 4 Semester 2 2023 (SOLUTIONS)
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  • AUE1501 (AUE1501)
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  • University Of South Africa (Unisa)

AUE1501 Assignment 4 Semester 2 2023 (SOLUTIONS) Question 1 Not yet answered Marked out of 1.00 Flag question Question text In the recording of receipts function in the revenue and receipts cycle, one of the risks is that a deposit is credited to a wrong debtor. Identify the control to mi...

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  • September 18, 2023
  • 9
  • 2023/2024
  • Other
  • Unknown

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  • aue1501 assignment 4 semester 2 2023 solutions

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  • University of South Africa (Unisa)
  • AUE1501 (AUE1501)
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,Question 1
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Question text
In the recording of receipts function in the revenue and receipts cycle, one of the risks is that a deposit is credited to
a wrong debtor. Identify the control to mitigate this risk.




a.
Queries from debtors should be investigated by an employee independent of debtors and banking.


b.
Cash receipts should be written up on a daily basis, by date and receipt number.




c.
The cash book should be reconciled with the bank statement every month.




d.
Pre numbered receipts should be issued for all payments received.



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Question 2
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Question text
Select the risk that is not associated with receiving an order from a customer.




a.
No orders are processed before the credit controller has given the necessary approval.




b.
An error occurs while the information is being captured on the internal sales order from the customer order.




c.
Incorrect goods are picked.

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