$14-20($Objectives $14-3,14-5)$ The following questions deal with internal controls in the sales and collection cycle. Choose the best response.

Which of the following controls would be most effective in detecting a failure to record cash received from customers paying on their accounts?

A person in accounting reconciles the bank deposit to the cash receipts journal.

Transactions recorded in the cash receipts journal are posted on a real$-$time basis to the accounts receivable database file.

Monthly statements are sent to customers and any discrepancies are resolved by someone independent of cash handling and accounting.

Deposits of cash received are made daily.

The accounting system will not post a sales transaction to the sales journal without a valid bill of lading number. This control is most relevant to which transaction$-$related Objective for sales?

Accuracy

Occurrence

Completeness

Posting and summarization

The accounting system automatically obtains the unit price based on scans of bar codes for merchandise sold. This control is most relevant to which transaction$-$related Objective for sales?

Posting and Summarization

Occurrence

Completeness

Accuracy