IIA Exam CPEA Topic 1 Question 60 Discussion

Actual exam question for IIA's CPEA exam

Question #: 60
Topic #: 1

[All CPEA Questions]

Which one of the following combinations of duties is most likely to be considered an acceptable practice from an internal control viewpoint if the combination of duties described are to be performed by the same employee?

Amaintaining the accounts receivable ledger and receiving all cash payments submitted against it

Breceiving all cash payments and depositing the cash payments in the bank

Cmaintaining the perpetual inventory records and receiving all supply deliveries

Dmaintaining the perpetual inventory records and maintaining the accounts receivable ledger

Show Suggested Answer

Suggested Answer: A, B, C

by Edna at Jul 10, 2023, 02:57 AM

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Steffanie

5 hours ago

Option A is definitely a no-go. Separating the duties of maintaining the accounts receivable ledger and receiving cash payments is a basic internal control principle.

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