For effective internal control over accuracy of transactions, the accounts payable department should compare the information on each vendor's invoice with the:
A. receiving report and the voucher.
B. receiving report and the purchase order.
C. vendor's packing slip and the purchase order.
D. vendor's packing slip and the voucher.
Answer: B
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Identify whether each of the following items 1 through 8 would on appear on the bank side or the book side of a bank reconciliation.____ 1. Bank service charges____ 2. Outstanding checks____ 3. Deposits in transit____ 4. NSF check____ 5. Interest on a checking account____ 6. The company properly wrote a check for $95.80 that the bank incorrectly paid as $9.58.____ 7. The bank printed checks for the depositor for a fee.____ 8. The bank collected a $1,000 note for the depositor.
What will be an ideal response?
For proper control, the receiving department should receive a copy of the purchase order that has the quantities blanked out
a. True b. False Indicate whether the statement is true or false
Although Elizabeth Cady Stanton was known for fighting for women's right to vote, she also fought for property rights, custody rights, employment rights divorce and even birth control
What will be an ideal response?
ServProf Inc. is a financial consulting firm that is currently recruiting new employees. One of the policies of the company states that an employee must work in the company for a minimum of one year and sign a contract with the company confirming the acceptance. Employees who accept the job offer agree to this policy, and it does not adversely affect them. However, it is against the law for companies to follow such a policy. In this scenario, ServProf Inc. has engaged in _____ behavior.
A. illegal and unethical B. illegal yet ethical C. legal yet unethical D. legal and ethical