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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Rossana

5 days ago

I see your point, Madalyn. Option D does make sense in terms of efficiency and accuracy in record-keeping.

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Madalyn

6 days ago

I disagree, I believe option D is the best choice as it combines related duties of maintaining inventory records and accounts receivable ledger.

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Casandra

9 days ago

I think option A is acceptable because it separates the duties of maintaining accounts receivable and receiving cash payments.

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Steffanie

10 days 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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