A Control Plan to Ensure Input Accuracy in Payables Processing

question 29

Multiple Choice

A control plan to ensure input accuracy in payables processing is:

• A) requisition confirmation to originating department
• B) match invoice, purchase order, and receiving report
• C) tickler file of payments due
• D) independent authorization to make payment

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Definitions:

Assumptions

Preliminary ideas or beliefs taken as truth without verification, often used as a basis for theoretical models or planning.

Expert Estimates

The method of using knowledgeable individuals' judgments to predict outcomes, such as time or cost, in project management or planning.

Scenario Forecast

A planning tool involving the analysis of future situations by considering different plausible states of the world or business environment.

Multiple Predictor Estimates

A method in statistics and forecasting using various predictors or variables to estimate an outcome.