A Control Plan That Helps Ensure the Security of Resources

question 96

Multiple Choice

A control plan that helps ensure the security of resources within the AP/CD process is:

• A) requisition confirmation to originating department
• B) approve vendor selection
• C) independent validation of vendor invoice
• D) independent authorization to make payment

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Definitions:

Bilateral Contract

A bilateral contract is an agreement in which each of the two parties makes a promise to the other, creating mutual obligations.

Consideration

In contract law, a benefit or something of value that is exchanged between parties to a contract, making the agreement legally binding.

Contracting Party

An entity or individual that enters into a legal contract or agreement.

Unilateral Contract

A contract in which only one party makes a promise or undertakes a performance without requiring a reciprocal agreement from the other party, often associated with reward scenarios.