Which of the Following Controls Should Prevent an Invoice for the Purchase

question 20

Multiple Choice

Which of the following controls should prevent an invoice for the purchase of merchandise from being paid twice?

• A)The check signer accounts for the numerical sequence of receiving reports used in support of each payment.
• B)An individual independent of cash operations prepares a bank reconciliation.
• C)The check signer reviews and cancels the voucher packets.
• D)Two check signers are required for all checks over a specified amount.A

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Definitions:

Random Sample

A random sample is a subset of individuals chosen from a larger set, where each individual has an equal chance of being selected.

Checking Account Balance

The amount of money currently available in someone's checking account.

Confidence Interval

A range of values, derived from the statistics of observed data, that is believed to contain the true value of an unknown parameter with a certain probability.

Credit Union

A member-owned financial cooperative that provides traditional banking services like savings and loan facilities to its members.