Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

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Answer 1

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Chapter 4, Problem 12DQ

To determine

Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

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When will a credit check approval most likely require specific authorization by the credit department? a. when verifying that the current transaction does not exceed the customer’s credit limit b. when verifying that the current transaction is with a valid customer c. when a valid customer places a materially large order d. when a valid customer returns goods

Discuss the trade-off in choosing to update the customer credit, should the sales clerk ever be authorized to override the decision? If so when?

Provide an appropriate response based on the following scenarios. Assume that the accounting clerk posts a customer’s payment for the wrong amount, giving the customer credit for less than he or she actually paid. How will this error be detected? How might this error have been prevented? Assume that the employee who opens the mail steals a customer payment. How will this theft be detected? How might this theft have been prevented?

Answer 2

Question

Chapter 4, Problem 12DQ

To determine

Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

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Answer 3

Question

Chapter 4, Problem 12DQ

To determine

Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

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Answer 4

Question

Chapter 4, Problem 12DQ

To determine

Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

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Answer 5

Chapter 4, Problem 12DQ

To determine

Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

Answer 6

Chapter 4, Problem 12DQ

To determine

Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

Answer 7

Chapter 4, Problem 12DQ

To determine

Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 4 - Prob. 1RQ Ch. 4 - Prob. 2RQ Ch. 4 - What function does the receiving department serve...Ch. 4 - Prob. 4RQ Ch. 4 - Prob. 5RQ Ch. 4 - Prob. 6RQ Ch. 4 - Prob. 7RQ Ch. 4 - Prob. 8RQ Ch. 4 - Prob. 9RQ Ch. 4 - Distinguish between an edit run, a sort run, and...

Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

Solution Summary: The author explains that sales order procedures include a thorough systematic procedure for sale of goods in which receipt of order, credit approval, billing, shipping, warehousing and recording in accounts receivables ledgers and

Explain whether a sales clerk should be authorized to override the denial of customer credit, if such denial is concluded by an automated credit checking function. Also, explain the circumstances when override can take place.

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