Which of the Following Necessary Controls Would Address Potential Misstatement

question 13

Multiple Choice

Which of the following necessary controls would address potential misstatement arising from a voucher being paid twice?

• A) Periodic independent bank reconciliations.
• B) Electronic cancellation of vouchers and supporting information when a check is issued.
• C) Separate duties for approving payment vouchers and sighing checks.
• D) The computer compares the sum of checks issued with the entry to cash disbursements.
• E) Only authorized personnel are permitted to run the cash disbursements program and handle checks.

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Definitions:

Product Reliability

The likelihood that a product will not fail within a specific period under specified conditions.

Registration

The process of officially recording or enrolling something or someone in a list, database, or system, often for legal, official, or regulatory purposes.

Probability Of Failure

The likelihood, often expressed as a percentage or ratio, that a system or component will not perform its intended function within a specified period.

Service Reliability

The consistency and dependability of a service provider in delivering promised services to customers at the required performance level.