Equipment acquisitions that are misclassified as maintenance expense most likely would be detected by an internal control
Question:
Equipment acquisitions that are misclassified as maintenance expense most likely would be detected by an internal control procedure that pro- vides for
a. Segregation of duties of employees in the accounts payable department.
b. Independent verification of invoices for disbursements recorded as equipment acquisitions.
c. Investigation of variances within a formal budgeting system.
d. Authorization by the board of directors of significant equipment acquisitions.
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