Which of the following procedures in the cash disbursements cycle should not be performed by the accounts

Question:

Which of the following procedures in the cash disbursements cycle should not be performed by the accounts payable department?

a. Comparing the vendor’s invoice with the receiving report

b. Canceling supporting documentation after payment

c. Verifying mathematical accuracy of the vendor’s invoice

d. Signing the voucher for payment by an authorized person

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing Concepts For A Changing Environment With IDEA Software

ISBN: 9780324180237

4th Edition

Authors: Larry E. Rittenberg, Bradley J. Schwieger

See More Books

Question Posted: May 08, 2024 03:01 AM

See More Questions

1. Which of the following is the most effective control procedure to detect vouchers that were prepared for the payment of goods that were not received? a. Count goods on receipt in the storeroom. b....
Multiple Choice Questions 1. Auditors use analytical procedures to help identify potential misstatements in inventory. Which of the following would not be useful for this purpose? a. Calculating...
1. In a properly designed accounts payable system, a voucher is prepared after the invoice, purchase order, requisition, and receiving report are verified. The next step in the system is a....
For numbers a and b, determine which of the following expressions equals the given expression. (a) a + b (b) a b (c) b a (d) a b a + (b)
Let A be an m n matrix. Suppose that C = (A B ) is an m (n + k) matrix whose first n columns are the same as A. Prove that mgC mg A. Thus, appending more columns cannot decrease the size of a...
Dax Corporation's genetically engineered flowers have rapidly gained market acceptance and shipments to customers have increased dramatically. The company is preparing for significant increases in...
In some instances, a temporary restraining order can be granted ex parte (i.e., without notice to the other side) until a hearing for a preliminary injunction can be held. Further investigate CCP 527...
Foot Locker Inc. is the worlds number one retailer of athletic footwear and apparel. Headquartered in New York City, the company has over 44,000 employees and 3369 retail stores in 23 countries...
You have been given the following information for Illiquid Ltd , a company experiencing cash flow difficulties. Annual sales are expected to be 2 , 0 0 0 , 0 0 0 for this year. Credit control...
Tracing debits from an expense account to receiving reports and purchase orders provides evidence that a. All receipts of merchandise were properly recorded. b. Recorded expenses were for goods...
Which of the following is not one of the independent auditors objectives regarding the examination of inventories? a. Verifying that inventory counted is owned by the client b. Verifying that the...
Green strength can be important in powder-metal processing? Explain why.
Calculate the loan risk associated with a $2 million, five-year loan to a BBB-rated corporation in the computer parts industry that has a duration of 6.4 years. The cost of funds for the bank is 8...
Required: Calculate the budget Net Income for December? Kohl's Department Store and Target Corporation buy their clothing from Form Fitters Inc., a merchandising firm, that has budgeted its activity...
in a game design using object oriented language we are creating some obstacles like person escaping from a lion, dragon ,fire while running etc. how to write methods for the respective obstacles
Robin Hood, in an attempt to win the heart of Maid Marian and the Golden Arrow prize offered by Prince John, Challenges the Sherrif of Nottingham to shoot an apple tossed toward the archers with an...
At December 3 1 , 2 0 2 2 , Samson Company reported Accounts Receivable of $ 1 0 5 , 0 0 0 and Allowance for Doubtful Accounts of $ 7 , 5 0 0 . On January 7 , 2 0 2 3 , Delilah, Inc. declares...
List the symmetry elements of the following molecules and name the point groups to which they belong: (a) Staggered CH3CH3, (b) Chair and boat cyclohexane, (c) B, H6, (d) [Co (en) 3J3+, where en is...
Find the work done in pumping all the oil (density S = 50 pounds per cubic foot) over the edge of a cylindrical tank that stands on one of its bases. Assume that the radius of the base is 4 feet, the...
A child is swinging a 330-g ball at the end of a 66.0-cm-long string in a vertical circle. The string can withstand a tension of 11.0 N before breaking. (a) What is the tension in the string when the...
1. Consider the following graph of a car in motion. Use the graph to answer the questions. a. 25.0 (5 s, 20 m/s) 20.0 15.0 10.0 5.00 0.00 0.00 4.00 8.00 t (s) (15 s, 20 m/s) 12.0 Describe the motion...
The center of mass of a person may be determined by an arrangement such as the one shown in the figure below. A light plank rests on two scales separated by a distance of d = 1.80 m and reading Fg1 =...

Which of the following procedures in the cash disbursements cycle should not be performed by the accounts

Question:

Step by Step Answer:

The correct answer is d Signing the voucher for paym...View the full answer

Auditing Concepts For A Changing Environment With IDEA Software

Students also viewed these Business questions