Submitted by santra on November 30, 2007

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Internal Control-Questionnaire

Internal Control Questionnaire—Sales Transaction Processing

Assertions and Questions Yes, No, N/A
Comments

Occurrence assertion:
1. Is the credit department independent of the sales department?
No
Sale clerks prepare written sales orders and hand-carry them to the credit manager in the treasurers office. After credit approval the credit manager signs the sale orders.

2. Are sales of the following types controlled by the same procedures described below? Sales to employees, COD sales, disposals of property, cash sales, and scrap sales.
Yes
For bookkeeping purposes sales are handled in the same...

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