One Form of Accounts Payable Fraud Occurs When the Accounts

question 60

Multiple Choice

One form of accounts payable fraud occurs when the accounts payable clerk or another employee steals a cheque made payable to a legitimate vendor.The purchaser's information is then resubmitted for payment and the second cheque sent to the vendor.How could such a theft be prevented?

• A)Cancel supporting documents to prevent their being re-used.
• B)Make sure that all payments are supported by valid documents.
• C)Reconcile the transaction files to the accounts payable master file.
• D)Have receiving reports authorized independently.

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Definitions:

Sustainable Products

are goods that provide environmental, social, and economic benefits while protecting public health and the environment over their whole life cycle, from the extraction of raw materials until the final disposal.

Negative Perceptions

The unfavorable views or opinions held by individuals or groups towards a product, service, or concept.

Sustainability

Refers to the practice of meeting the needs of the present without compromising the ability of future generations to meet their own needs, often focusing on environmental, social, and economic balance.

Production Levels

The quantity of goods or services that are produced within a given timeframe, reflecting a company's output capacity.