Using Prenumbered Checks and Having an Approved Invoice for Each

question 21

Multiple Choice

Using prenumbered checks and having an approved invoice for each check is an example of

• A) establishment of responsibility.
• B) segregation of duties.
• C) documentation procedures.
• D) independent internal verification.

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Definitions:

Utilities Expense

The cost incurred by a business for basic utilities such as water, electricity, gas, and sewage services.

Slide

The error that results in adding or deleting zeros in the writing of a number. Example: 79,200 → 7,920.

Error

A mistake or inaccuracy in financial records or calculations.