Ethan Fromme Is the Purchaser for Hardware Hut,a Company with Several

question 43

Essay

Ethan Fromme is the Purchaser for Hardware Hut,a company with several hardware stores.He prepares purchase orders for merchandise and places the orders with manufacturers.Although he does not physically receive the merchandise,he is responsible for checking the invoice against the purchase order and authorizing payment of the invoice.Describe internal control this arrangement causes.

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Definitions:

Insurance Industry

A sector composed of companies that offer risk management in the form of insurance contracts, helping individuals and businesses mitigate financial loss.

Economic Liberty

The freedom to choose how to produce, sell, and purchase goods and services in the absence of undue government restrictions.

Avik Roy

A healthcare policy expert, writer, and president of the Foundation for Research on Equal Opportunity, known for his contributions to discussions on healthcare reform and policy.

African Americans

Citizens or residents of the United States who have total or partial ancestry from any of the native populations of Sub-Saharan Africa.