Importance of proper credit approval for sales


Response to the following questions:

1. Explain the importance of proper credit approval for sales. What effect do adequate controls in the credit function have on the auditor's evidence accumulation?

2. Distinguish between the sales journal and the accounts receivable master file. What type of information is recorded in each and how do these accounting records relate?

 

 

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Auditing: Importance of proper credit approval for sales
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