The comparison of the shipping records with the sales journal and invoices is completed to minimize the related risk of:
A)Invalid transactions
B)Fictitious customers
C)Omitted transactions
D)Duplicate transactions

Question

Quizplus · Accepted Answer

The comparison of the shipping records with the sales journal and invoices can help identify any omitted transactions, such as orders that were shipped but not properly recorded in the sales journal or invoices. This helps minimize the risk of financial statements being misstated due to missing transactions. It does not directly address the risk of invalid transactions, fictitious customers, or duplicate transactions.

The Comparison of the Shipping Records with the Sales Journal