The Internal Control Activities Within the Purchasing Process, Related to Authorization

question 25

Multiple Choice

The internal control activities within the purchasing process, related to authorization of transactions, would include which of the following?

• A)The accounting duties related to requisitioning, ordering, and receiving goods should be performed by different individuals.
• B)The custody of inventory and the recording of inventory transactions are required to be maintained.
• C)Specific individuals should be given authoritative responsibility for preparing purchase requisitions and purchase orders which would include which items to purchase, how many items, and which vendor.
• D)Periodic physical inventory counts are to be reconciled with the inventory ledger and general ledger.

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Definitions:

Vowel

A letter of the alphabet representing a voiced sound made without any closure or obstruction of the vocal tract.

Wt

Commonly an abbreviation for weight, a measure of the heaviness or mass of an object or individual.

Etiology

The study of the causes or origins of diseases or disorders.

Adduct

To move a limb or other body part toward the midline of the body or toward another part of the body.