Which of the Following Control Activities Is Not Usually Performed

question 52

Multiple Choice

Which of the following control activities is not usually performed in the accounts payable department?

• A)Determining the mathematical accuracy of the vendor's invoice.
• B)Having an authorized person approve the voucher.
• C)Controlling the mailing of the check and remittance advice.
• D)Matching the receiving report with the purchase order.

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Definitions:

Incremental Cash Flows

The additional cash flow generated by a company from undertaking a particular project or investment.

New Venture

Refers to a newly established business entity created with the intention of entering a market.

Opportunity Cost

The financial loss involved in not selecting the subsequent top preference during the decision-making process.

Cash Flow Estimate

An approximation of the amount of money expected to move in and out of a business within a specific time period.