Which of the following are key control procedures for the revenue business process?
A)segregation of procedures
B)authorization of duties
C)documented transaction trails
D)independent reconciliations
E)physical controls that limit access to liabilities
F)both A and B
G)both C and D

Question

Quizplus · Accepted Answer

Documented transaction trails and independent reconciliations are important control procedures for the revenue business process. Segregation of procedures and authorization of duties are important control procedures for other business processes, such as the procurement process. Physical controls that limit access to liabilities may also be important, but are not specific to the revenue business process. Therefore, the best choice is G, which includes the two key control procedures specifically related to the revenue business process.

Which of the Following Are Key Control Procedures for the Revenue