Which of the Following Questions Would Most Likely Be Included

question 22

Multiple Choice

Which of the following questions would most likely be included in an internal control questionnaire concerning the completeness assertion for purchases?

• A)Is an authorized purchase order required before the receiving department can accept a shipment or the vouchers payable department can record a voucher?
• B)Are purchase requisitions prenumbered and independently matched with vendor invoices?
• C)Is the unpaid voucher file periodically reconciled with inventory records by an employee who does not have access to purchase requisitions?
• D)Are purchase orders, receiving reports, and vouchers prenumbered and periodically accounted for?

Understand the impact of direct labor costs on the production budget.

Estimate the required production units based on given data and calculations.

Evaluate the budgeted sales and its relation to production planning.

Understand the estimation of selling and administrative expenses within a budget.

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Definitions:

Energy

The capacity to do work, or the power derived from the utilization of physical or chemical resources to provide light, heat, or to work machines.

Conversion

The act or process of changing or causing something to change from one form to another, in various contexts such as religion, energy, or digital data.

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body.

Sensation

The process by which our sensory receptors and nervous system receive stimuli from our environment, an initial step in perception.