Segregation of duties controls dictates that the collection and recording functions be kept separate from each other. However, the accounts receivable department needs to know when customers pay their invoices. What is a solution to this potential internal control problem?

Options are:

A) Establish a lockbox arrangement with a bank.

B) Have customers send a remittance advice with their payment.

C) Have mailroom personnel prepare a remittance list which can be forwarded to accounts receivable.

D) all of the above

Option D All of the above

Explanation:

The reason is that the segregation of duties breaks down a task and assign it to different people and authorize them to collect and record the facts.

So their are number of internal controls which are listed as options and are correct because:

Option A The lockbox arrangement helps the customers to deposit their money in their supplier's bank account by using the mailing facility of the bank.

Option B

The customer must send the remittance advice with their payment to suppliers so that the company knows whether or not the customer has paid or not and how much they have paid.

Option C

The mailroom personel sends the draft to the accounts department as well so that the right amount remittance is generated and sent alongwith the invoice to the customers.

All the options are correct so the right option is D.

no, dan should reduce his discretionary spending. not long-term goals involve more planning than short-term goals do

answer: musical connotation

leonard b. meyer (1918-2007) was an american composer, author and philosopher. his work emotion and meaning in music is perhaps the first major treatise on music. it is a philosophical and psychological work, greatly influenced by koffka (one of the major proponents of gestalt psychology). his work deals with the problem of musical meaning and musical communication.