Which of the Following Is a Control Procedure That Is

question 15

Multiple Choice

Which of the following is a control procedure that is usually applied to accounts payable?

• A)Periodic confirmation of accounts payable.
• B)Mailing statements to vendors detailing their account.
• C)Periodic aging of accounts payable.
• D)Matching invoices with receiving documents before disbursements are authorized.

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Definitions:

Diminishing Marginal Utility

The principle that as a person increases consumption of a product, while keeping consumption of other products constant, there is a decline in the marginal utility that person derives from consuming each additional unit of that product.

Baseball Card Packs

Packaged collections of trading cards primarily featuring baseball players, often sold as collectibles or hobby items.

Diminishing Marginal Utility

The economic principle that as a person consumes more of a good, the incremental satisfaction gained from consuming additional units tends to decrease.

Ballet Slippers

Lightweight, flexible footwear specifically designed for ballet dancing.