Which of the Following Would Be a Necessary Control to Avoid

question 8

Multiple Choice

Which of the following would be a necessary control to avoid an invoice being paid twice

• A) periodic bank reconciliations.
• B) segregating the duties of approving invoices and signing cheques.
• C) invoice stamped paid when the cheque is issued.
• D) making payments by cheque.

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Definitions:

Disposable Income

The net amount households have to save and spend after factoring in income taxes.

Consumption Spending

The total amount of money spent by households and individuals on goods and services within a specific time period.

Marginal Propensity

A measure of how much an individual's consumption changes with a change in income.

Disposable Income

The cash reserves left for households to spend and save after paying income taxes.