Which One of the Following Internal Accounting Control Procedures Is

question 31

Multiple Choice

Which one of the following internal accounting control procedures is effective in preventing duplicate payment of vendors' invoices?

• A) The invoices should be stamped, perforated, or otherwise effectively cancelled before submission for approval of the voucher.
• B) Cancelled cheques should be sent to persons other than the cashier or accounting department personnel.
• C) Unused voucher forms should be prenumbered and accounted for.
• D) Properly authorised and approved vouchers with appropriate documentation should be the basis for cheque preparation.

Grasp the conceptual foundation of ABC, including the roles of resource drivers and activity drivers.

Understand the concept and importance of cost drivers in managing activities and costs.

Understand the concept and application of normal costing in manufacturing processes.

Analyze and calculate under or overapplied overhead based on different capacity measures.

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Definitions:

Control Chart

A graphical tool used in process control to monitor, control, and improve the process performance over time by tracking data points against predetermined control limits.

Run Chart

A graph that displays observed data in a time sequence to identify any trends, shifts, or patterns.

Statistical Quality Control

The application of statistical methods and analyses to monitor and evaluate various aspects of product quality and manufacturing processes.

Process Capability Index

A statistical measure that quantifies how well a process is able to produce output within specified limits, often used in quality control.