In a System of Good Internal Control, a Payment to a Supplier

question 58

Multiple Choice

In a system of good internal control, a payment to a supplier requires which documents for proper approval?

• A)A receiving report, an invoice, and a purchase order
• B)A purchase order, a journal entry, and a price catalog
• C)A supplier invoice, a bill of lading, and the supplier's financial statements
• D)A journal entry, a supplier invoice, and a description of the goods being purchased

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Definitions:

Complexity Level

The degree of complication or difficulty of a project, system, or problem, based on factors like size, variability, and the number of elements involved.

Genetically Modified

Describes organisms whose genetic material has been altered using genetic engineering techniques, typically to achieve characteristics not possible through natural selection.

Margin of Error

A statistic expressing the amount of random sampling error in a survey's results, indicating how much the survey's results may differ from the actual population.

Random Sample

A subset of individuals chosen from a larger population where each individual has an equal chance of being selected.