Which of the Following Internal Control Activities Is Not Usually

question 31

Multiple Choice

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

• A)Indicating the asset and expense accounts to be debited.
• B)Accounting for unused pre-numbered purchase orders and receiving reports.
• C)Matching the supplier's invoice with the related receiving report.
• D)Approving vouchers for payment by having an authorised employee sign the vouchers.

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Definitions:

Financial Statement

Formal records of the financial activities and position of a business, person, or other entity, typically including balance sheet, income statement, and cash flow statement.

External Financing

External financing is the process of obtaining funds from outside sources, such as banks, investors, or financial markets, to support a company's operations or expansion.

Sales Capacity

Refers to the maximum level of sales that can be achieved within a given period under normal operating conditions, considering the company's resources and market demand.

Projected Future Sales

Estimates of the amount of goods or services a company expects to sell over a future period.