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:

Final Consumers

The end-users or individuals who purchase products or services for personal use and consumption.

Corporate Advertising

A marketing strategy aimed at promoting a company as a whole, rather than its individual products or services, to build the corporate image and reputation.

Proctor & Gamble

A multinational consumer goods corporation specializing in a wide range of personal health/consumer health, and personal care and hygiene products.

Trade Advertising

Advertising aimed at professionals within a specific industry rather than the general public, to promote goods and services within that industry.