Procedures that can be used to prevent and/or detect receivables skimming include which of the following?

Question

Quizplus · Accepted Answer

All of the procedures listed (reconciling the bank statement regularly, mandating that employees take annual vacations, and performing a trend analysis on the aging of customer accounts) can help prevent and detect receivables skimming. Reconciling the bank statement regularly ensures that all transactions are recorded accurately, while mandating annual vacations can help to prevent employees from being able to establish long-term skimming schemes without detection. Performing a trend analysis on the aging of customer accounts can help to identify any unusual patterns or trends that may indicate receivables skimming.

Procedures That Can Be Used to Prevent And/or Detect Receivables