Which of the following is an internal control measure regarding purchases made by a company during a fiscal year? a. The person authorizing purchase orders is the person filling purchase requisitions. b. Payment to creditors is authorized only after the purchase invoice data is verified against the receiving report and purchase order. c. The person authorizing payment is the person writing the payment checks. d. Payment to creditors is authorized only after the purchase invoice data is verified against the inventory levels existing on the ☐ date of the payment.

Which of the following is an internal control measure regarding purchases made by a company during a fiscal year? a. The person authorizing purchase orders is the person filling purchase requisitions. b. Payment to creditors is authorized only after the purchase invoice data is verified against the receiving report and purchase order. c. The person authorizing payment is the person writing the payment checks. d. Payment to creditors is authorized only after the purchase invoice data is verified against the inventory levels existing on the ☐ date of the payment.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter9: Auditing The Revenue Cycle.

Section: Chapter Questions

Problem 28CYBK

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