The Monthly Review and Reconciliation of Vendor Statements and Accounts

question 26

Multiple Choice

The monthly review and reconciliation of vendor statements and accounts payable records minimizes the risk of all of the following except

• A)ommitted or fictitious returns
• B)recording an invoice with an incorrect vendor
• C)timing issues
• D)invoices from a fictitious vendor

---

Definitions:

Hypothesis

An educated guess or proposed explanation made on the basis of limited evidence as a starting point for further investigation.

Authority

Exists where subordinates consider domination by leaders to be legitimate.

Protestant Work Ethic

A concept in sociology that emphasizes hard work, discipline, and frugality as a result of a person's subscription to the values espoused by the Protestant faith, particularly Calvinism.

Gender Insensitivity

Lack of awareness or consideration of the differences and inequalities between genders.