The Control Plan Independent Validation of Vendor Invoice Is Directed

question 109

Multiple Choice

The control plan independent validation of vendor invoice is directed primarily at which of the following control goals?

• A) select a vendor who will provide the best quality at the lowest price by the promised delivery date
• B) input validity
• C) input accuracy
• D) input completeness

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Definitions:

Cash Flow Hedge

A cash flow hedge is a hedging strategy used to manage exposure to variability in cash flows associated with a particular risk, typically related to interest rates, commodity prices, or currency exchange rates.

British Pounds

The currency of the United Kingdom, which is one of the world's major currencies used for international trade and investment.

Forward Contract

A tailored agreement between two entities to purchase or sell a specific asset at a predetermined price on a future date.

Cash Flow Hedge

A financial strategy used to reduce the risk associated with fluctuations in cash flow due to changes in exchange rates, interest rates, or commodity prices.