An Entity Erroneously Recorded a Large Purchase Twice

question 72

Multiple Choice

An entity erroneously recorded a large purchase twice. Which of the following internal controls would be most likely to detect this error in a timely and efficient manner?

• A)Footing the purchases journal.
• B)Reconciling vendors' monthly statements with subsidiary payable ledger accounts.
• C)Tracing totals from the purchases journal to the ledger accounts.
• D)Sending written quarterly confirmations to all vendors.

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Definitions:

Live Births

The birth of a baby that shows any sign of life, such as breathing, heartbeat, or voluntary muscle movements, after separation from the mother's body.

Cartilage

A flexible connective tissue found in various forms in the human and animal body, notably in the joints, rib cage, ear, and nose.

Voice Box

is another term for the larynx, an organ in the top of the neck involved in breathing, producing sound, and protecting the trachea against food aspiration.

The Wrist

A joint complex consisting of the distal end of the radius and ulna and the proximal row of carpal bones, facilitating hand movement.