Helen Found That the Expense Reports Were Not Properly Approved

question 63

Multiple Choice

Helen found that the expense reports were not properly approved while the senior accounts payable clerk was on vacation in July.Helen decided to perform a test of control on the authorization of expense reports for all the months except for July,which she will test substantively.Helen is allowed to do this because

• A)the authorized expense reports for July are not material.
• B)it would not be cost beneficial to test the entire population substantively.
• C)the authorizations for the month of July are not representative of the population as a whole.
• D)compensating controls exist in the payroll reconciliation process.

Recognize the role of customer service in the marketing and logistics interface.

Understand the concept and importance of interobserver reliability.

Identify and differentiate between various recording techniques and their applications.

Understand the impact of observer beliefs and expectations on behavior recording (placebo effect).

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Definitions:

Opportunity Costs

The burden of missing out on the subsequent optimal choice during the selection process.

Technological Advances

Innovations and improvements in technology that increase productivity, efficiency, or bring about new products or ways of doing things.

Entrepreneurial Ideas

innovative concepts or proposals that can be developed into profitable business ventures by identifying and fulfilling market needs or solving problems.

Low Cost

An economic term referring to a price or cost that is relatively cheaper in comparison to similar products, services, or operational methods.