An Entity Erroneously Recorded a Large Purchase Twice

question 72

Multiple Choice

An entity erroneously recorded a large purchase twice. Which of the following internal controls would be most likely to detect this error in a timely and efficient manner?

• A)Footing the purchases journal.
• B)Reconciling vendors' monthly statements with subsidiary payable ledger accounts.
• C)Tracing totals from the purchases journal to the ledger accounts.
• D)Sending written quarterly confirmations to all vendors.

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Definitions:

Higher-order Conditioning

A form of learning in which a stimulus is paired with a previously conditioned stimulus, leading to the same conditioned response.

Conditioned Responding

The behavior that results from learning through conditioning, where a neutral stimulus becomes associated with a meaningful stimulus, eliciting a response.

Green Light

A signal used in traffic lights indicating the permission to go or proceed.

Conditioned Responses

Learned reactions or responses to certain stimuli that occur as a result of conditioning, such as in classical and operant conditioning.