An internal control questionnaire for purchases and accounts payable could include the following questions. Match the question to the appropriate control objective and place the identifying letter in the space provided.
____ 1. Are receiving reports pre-numbered and accounted for?
____ 2. Are all purchases orders supported by properly approved purchase
requisitions?
____ 3. Are vendors' invoices listed immediately upon receipt?
____ 4. Are vendors' invoices matched against purchase orders and receiving
reports before a liability is recorded?
____ 5. Is the purchasing department independent of the accounting, receiving,
and shipping departments?
____ 6. Are vendors' invoices checked against purchase orders and receiving
reports for quantities, prices, and terms?
____ 7. Does the accounting procedures manual require that transactions be
recorded on the date that goods and services are received?
____ 8. Are all goods returned to vendors supported by properly approved
shipping documents?
____ 9. Is the chart of accounts adequate?
____ 10. Are vouchers and attached documents cancelled after being recorded?
A: Environment
B: Validity
C: Completeness
D: Authorization
E. Accuracy
F. Classification
G: Proper period
1. C Completeness
2. D Authorization
3. C Completeness
4. B Validity
5. A Environment
6. E Accuracy
7. G Proper period
8. D Authorization
9. F Classification
10. B Validity
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Automated retailing occurs when a consumer goes into a store to learn about different brands and products and then searches the Internet for the same product sold at a lower price.
Answer the following statement true (T) or false (F)
The key advantage of taking notes is that it helps the listener to ______.
A. organize the message B. visualize the message C. personalize the message D. all of these
Why are more companies implementing flexible working arrangements for their employees?
What will be an ideal response?