Which of the Following Is a Substantive Procedure That an Auditor

question 39

Multiple Choice

Which of the following is a substantive procedure that an auditor most likely would perform to verify the existence of recorded accounts payable?

• A)Investigating the open purchase order file to ascertain that prenumbered purchase orders are used and accounted for.
• B)Receiving the entity's mail, unopened, for a reasonable period of time after the year-end to search for unrecorded vendor's invoices.
• C)Vouching selected entries in the accounts payable subsidiary ledger to purchase orders and receiving reports.
• D)Confirming accounts payable balances with known suppliers who have zero balances.

Recognize the benefits of hybrid supply structures in organizational design.

Comprehend the influence of organizational structure on supply processes, internal relationships, and systems.

Acknowledge the role of standardization in lowering the total cost of ownership.

Identify factors influencing the supply's level in an organization.

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Definitions:

Data Transmission

The act of transferring data or information between devices or locations.

Creative Arts

Various forms of artistic expressions including painting, music, literature, and dance that stimulate creativity and imagination.

Potential Buyer

An individual or organization likely to purchase a product or service based on certain criteria or interests.

Seller

An individual or entity that offers goods or services for sale to consumers or other businesses.