Consider an economy with two individuals. Individual 1 has (inverse) demand curve for a public good given by P1=60 – 2Q1, while
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Answer:
Note: <em>Missing word (list) are attached as picture below</em>
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1. To determine that all credit sales transaction of an entity are recorded
Procedure to implement: <em>Match pre-numbered shipping documents with entries in sales journal.</em>
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2. To detect a failure to post invoice to customer account ledger
Procedure to implement: <em>Trace Sales invoices to account receivable subsidiary ledger</em>
3. To detect failure to invoice a shipment
Procedure to implement: <em>Vouch bill of lading file to approved sales invoice</em>
4. To ensure sales orders are properly authorized
Procedure to implement: <em>Confirm sales orders were sent to the credit department</em>
5. To determine goods sent to customers are based only on authorised sales order
Procedure to implement: <em>Match bill of lading file to approved sales order</em>
6. To verify the completeness of cash receipts for cash sales at a retail outlet
Procedure to implement: <em>Observe consistency of employee's use cash registers and tapes</em>
7. To ensure cash receipts are deposited
Procedure to implement: <em>Compare daily cash receipts total with bank deposits</em>
