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Test: CPA Auditing and Attestation (AUD)
1. | Which of the following internal controls most likely would reduce the risk of diversion of customer receipts by an entity’s employees? |
Monthly bank reconciliations
Daily deposit of cash receipts
A bank lockbox system
Prenumbered remittance advices
Steve
Certified Tutor
Certified Tutor
Broward College, Associate in Arts, Education. Florida Atlantic University, Bachelor in Arts, Elementary School Teaching.
Stephen
Certified Tutor
Certified Tutor
Tufts University, Bachelor in Arts, International Relations. Tufts University, Bachelor in Arts, Spanish.
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