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Item$1$

$5$points

Time Remaining $3$ hours $53$ minutes $30$ seconds

$03$:$53$:$30$

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Item $1$

Time Remaining $3$ hours $53$ minutes $30$ seconds

$03$:$53$:$30$

Following is a selection of items from internal control questionnaires.

Are purchase orders above a certain level approved by an officer?

Are the quantity and quality of goods received determined at the time of receipt by receiving personnel independent of the purchasing department?

Are vendors$$ invoices matched against purchase orders and receiving reports before a liability is recorded?

Are journal entries authorized at appropriate levels?

Required:

For each preceding item

Identify the management assertion to which it applies.