. The entry to record the granting of credit to a customer for a sales return is posted to Group of answer choices accounts receivable subsidiary ledger only. the general ledger only. both the accounts receivable subsidiary ledger and the general ledger. both the accounts payable subsidiary ledger and the general ledger
1. The entry to record the granting of credit to a customer for a sales return is posted to
Group of answer choices
the general ledger only.
both the accounts receivable subsidiary ledger and the general ledger.
both the accounts payable subsidiary ledger and the general ledger.
2. Under Real Time Processing model, no time lag exists and operational delays are not an issue. Despite of these benefits, which of the following is considered an issue for small companies for real time processing
Group of answer choices
More resources required
Fewer resources are required
Processing takes place when the economic event occurs
Certain records are processed after the event
3. Which of the following is an incorrect statement
Group of answer choices
In creating segregation of duties, a company must consider the cost-benefit analysis
The goods that the shipping department will receive must have a packing slip attached to it
Ideally, recording and custody must fall under the responsibility of the same personnel
Internal Control is placed on processes to mitigate risks inherent on each processes
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