Company to company sales normally occur on account and involve a time span given for the customer to pay the vendor.The actual number of days will depend on the credit terms and the diligence of the customer concerning on-time payments.
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Q128: Controls over cash collections are likely the
Q129: Those who handle cash should not have
Q130: Internal controls over sales returns are similar
Q131: A company is more likely to implement
Q132: Access to cash collections needs to limited
Q134: Because the point-of-sale systems are not normally
Q135: At a minimum, those who handle cash
Q136: The remittance advice sent by the customer
Q137: The segregation of duties states that the
Q138: Because the point-of-sale systems are not normally
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