For Effective Internal Control, the Accounts Payable Department Should Compare

question 12

Multiple Choice

For effective internal control, the accounts payable department should compare the information on each vendor's invoice with the

• A) Receiving report and the purchase order.
• B) Receiving report and the voucher.
• C) Vendor's packing slip and the purchase order.
• D) Vendor's packing slip and the voucher.

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Definitions:

Disposable Income

Post-tax income that households can allocate towards savings and expenses.

Consumption Spending

The total amount of money that households spend on goods and services within a certain period.

Disposable Income

Income available to households for saving and expenditure post-income tax deductions.

Consumption

The action or process of using goods and services for personal, household, or organizational needs.