The Accuracy of Purchases Can Be Verified by Which of the Following

question 36

Multiple Choice

The accuracy of purchases can be verified by which of the following processes?

• A)A computer starts with the population of daily vouchers and compares quantities with the underlying receiving report, compares prices to the underlying purchase order, and checks the mathematical accuracy of the voucher.
• B)A computer starts with the population of daily receiving reports and develops a one for one match with vouchers to ensure that each receiving report results in a voucher (the recording of a payable).
• C)A computer starts with the population of daily vouchers and compares the date on the voucher with the date on the underlying receiving report.
• D)Identifying what can go wrong (WCGW) from initiating the transaction to recording it in the general ledger.

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Definitions:

Accident

An unexpected and unintentional event causing damage or injury.

Forged Instrument

A document that has been illegally altered or created to look legitimate in order to commit fraud.

Uttering

The crime of offering a forged instrument to another person, knowing it to be forged.

Check 21 Act

A law that makes check clearing much quicker by the use of a substitute check in place of the original check for electronic check processing.