Peter Budd, the Purchasing Officer of Lake Hardware Wholesalers Pty

question 67

Multiple Choice

Peter Budd, the purchasing officer of Lake Hardware Wholesalers Pty Ltd (Lake) , has a relative who owns a retail hardware store. Peter Budd arranged for hardware to be delivered by manufacturers to the retail store on a COD basis, thereby enabling his relative to buy at Lake's wholesale prices. Budd was probably able to accomplish this because of Lake's poor internal control for:

• A) purchase requisitions.
• B) cash receipts.
• C) perpetual inventory records.
• D) purchase orders.

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Definitions:

Services-Communicating

The act of delivering and exchanging valuable information within a service context, ensuring that service goals are met efficiently.

Organizational Politics

The processes, tactics, and behaviors that individuals and groups use within an organization to gain power, achieve their goals, and potentially influence organizational decision-making.

Meeting Participant

An individual who actively takes part in a meeting, contributing to discussions and decision-making processes.

Information Sharing

The exchange of data, knowledge, or information among individuals, teams, or organizations.