For each of the following potential misstatements for purchases transactions, indicate a necessary control procedure and a
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For each of the following potential misstatements for purchases transactions, indicate a necessary control procedure and a possible test of controls:
a. Vouchers may be prepared for goods not ordered or received.
b. Goods may be taken from storage areas.
c. Vouchers may not be recorded.
d. Goods received may not have been ordered.
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Necessary Control Procedures and Tests of Controls for Potential Misstatements in Purchase Transactions a Vouchers may be prepared for goods not ordered or received To prevent the preparation of vouch...View the full answer
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