Which of the Following Is Not an Alternative Procedure When

question 82

Multiple Choice

Which of the following is not an alternative procedure when a confirmation is not received?

• A) Examine sales invoices and vouch them to underlying shipping documents.
• B) Examine payments received before the end of the period.
• C) Examine customer purchase orders.
• D) Examine client correspondence with the customer.

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Definitions:

Time Value

The concept that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.

Net Present Value

A method used in capital budgeting to assess the profitability of an investment or project by calculating the present value of its expected cash flows minus the initial investment cost.

Capital Budgeting

The process of making capital expenditure decisions in business.

Internal Reports

Financial or operational reports generated for internal use by the management and not for external stakeholders.