One of the Ways to Prevent the Use of Fictitious

question 1

Multiple Choice

One of the ways to prevent the use of fictitious suppliers to steal company funds is to

• A) have adequate network access controls to prevent unauthorized access to transaction files.
• B) ensure that accounts payable programs are available only in source code.
• C) establish controls to establish only approved vendors.
• D) reconcile the accounts payable trial balance to the general ledger.

Calculate shareholders' equity based on company's assets and liabilities.

Understand and calculate key financial metrics such as net income, dividends, and interest expenses.

Analyze and interpret the significance of current assets, working capital, and cash flow statements.

Calculate and apply the concepts of earnings before interest and taxes (EBIT).

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Definitions:

Reaction Intermediate

A transient species formed during a chemical reaction that does not appear in the overall reaction equation.

Consumed

Refers to the use or expenditure of a resource, such as energy or materials, especially until it is depleted.

Formed

Undergone the process of formation or being created or structured in a specific way.

Energy Diagram

A graphical representation that shows the energy levels of the reactants, intermediates, and products in a chemical reaction.