What Control Would Best Mitigate the Threat of Paying an Invoice

question 64

Multiple Choice

What control would best mitigate the threat of paying an invoice twice?

• A)never authorizing payment of a photocopy of an invoice
• B)double-checking mathematical accuracy of invoices
• C)approval of purchase orders
• D)maintaining adequate perpetual inventory records

Understand and explain the role and power of visual elements in business communication.

Recognize ethical considerations in the use of visuals.

Understand how visuals can enhance message completeness and persuasiveness.

Understand how visuals can support the communication of complex information.

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Definitions:

Straight-Line Depreciation

A system for distributing a tangible asset's cost over its functional life in uniform yearly figures.

Income Tax Expense

The expense recorded to account for taxes on profits earned by an organization, which is charged against its income.

Capital Budgeting

The process of evaluating and selecting long-term investments that are in line with the goal of investor’s wealth maximization.

Straight-Line Depreciation

A technique that distributes the expense of a physical asset across its life expectancy in identical yearly sums.