Accounting · Internal Control Systems
Which of the following procedures provides the most effective internal control specifically aimed at verifying the valuation and existence of trade receivables?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Reconciliation of the shipping logs with the inventory ledger.
- 2A prompt recording of sales tax on every outbound credit invoice.
- 3Implementation of rigid customer credit limits.
- 4Preparation and regular review of an aged receivables analysis.✓
Correct answer
Preparation and regular review of an aged receivables analysis.
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