The Internal Control Questionnaire for Purchases and Accounts Payable Includes $\quad$

question 86

Short Answer

The internal control questionnaire for purchases and accounts payable includes the following questions.Next to each of the questions,indicate the letter of the related transaction assertion.
A.Occurrence
B.Completeness
C.Accuracy
D.Classification
E.Cutoff ----- $\quad$ 1. Are vendors' monthly statements reconciled with individual accounts payable accounts?
----- $\quad$ 2. Are all purchases made only on the basis of approved purchase requisitions?
----- $\quad$ 3 Are vendors' invoices listed immediately upon receipt?
----- $\quad$ 4. Are vendors' invoices matched against purchase orders and receiving reports before a liability is recorded?
----- $\quad$ 5. Is the accounts payable customer ledger balanced periodically with the general ledger control account?
----- $\quad$ 6. Does the accounting manual give instructions to date purchase entries on the date of receipt of goods?
----- $\quad$ 7. Are shipping documents authorized and prepared for goods returned to vendors?
----- $\quad$ 8. Is the accounts payable department notified of goods returned to vendors?

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Definitions:

Insulin Vial

A small glass bottle containing insulin, used in the treatment of diabetes by regulating blood sugar levels.

Glargine (Lantus)

A long-acting insulin analogue used to manage blood sugar levels in individuals with diabetes, providing consistent insulin activity over 24 hours.

NPH Insulin

An intermediate-acting insulin that helps control blood sugar levels in individuals with diabetes, usually having a longer onset and duration than regular insulin.

Intravenously (IV)

The method of administering fluids or medication directly into a vein through a syringe or IV line.