An Entity's Internal Control Requires That for Every Check Request

question 61

Multiple Choice

An entity's internal control requires that for every check request there be an approved voucher, supported by a prenumbered purchase order and a prenumbered receiving report. To determine whether checks are being issued for unauthorized expenditures, an auditor most likely would select items for testing from the population of all:

• A)purchase orders.
• B)canceled checks.
• C)receiving reports.
• D)approved vouchers.

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Definitions:

Consensus

A general agreement among members of a specific group or community.

Glass Ceiling

A transparent barrier that keeps women from rising above a certain level in organizations.

Transparent Barrier

Often metaphorical barriers that are not visibly obvious but impede progress or communication, such as unspoken social norms or prejudices.

Glass Ceiling

An invisible barrier preventing minorities and women from rising to upper echelons of power or leadership in an organization despite their qualifications.