An audit procedure that compares the name, amount, and dates shown on remittance advices with cash receipts journal entries and with related duplicate deposit slips would be effective in detecting
A. kiting.
B. lapping.
C. unauthorized write-offs of customers as uncollectible accounts.
D. sales without proper credit authorization.
Answer:B
An audit procedure that compares the name, amount, and dates shown on remittance advices with cash receipts journal entries and with related duplicate deposit slips would be effective in detecting
A. kiting. B. lapping. C. unauthorized write-offs of customers as uncollectible accounts. D. sales without proper credit authorization.