One Form of Accounts Payable Fraud Occurs When the Accounts

question 60

Multiple Choice

One form of accounts payable fraud occurs when the accounts payable clerk or another employee steals a cheque made payable to a legitimate vendor.The purchaser's information is then resubmitted for payment and the second cheque sent to the vendor.How could such a theft be prevented?

• A)Cancel supporting documents to prevent their being re-used.
• B)Make sure that all payments are supported by valid documents.
• C)Reconcile the transaction files to the accounts payable master file.
• D)Have receiving reports authorized independently.

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Definitions:

Initializer Lists

Initializer lists in programming are used to initialize the member variables of a class with specific values at the time of object creation.

ArrayIndexOutOfBounds

An exception thrown in programming when an attempt is made to access an element of an array beyond its bounds.

Logic Error

A mistake in a program's source code that results in incorrect or unexpected behavior, but does not necessarily produce a syntax error.

Enumerated Type

A data type consisting of a set of predefined constants, known as enumeration, helping to create more readable and maintainable code.