Question: Effective internal control for purchases generally can be achieved in a well - planned organizational structure with a separate purchasing department that has: Multiple Choice

Effective internal control for purchases generally can be achieved in a well-planned organizational structure with a separate purchasing department that has:
Multiple Choice
The responsibility of reviewing purchase orders issued by user departments.
The authority to make purchases of requisitioned materials and services.
A direct reporting responsibility to controller of the organization.
The ability to prepare payment vouchers based on the information on a vendor's invoice.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!