Which of the Following Controls Can Minimize the Threat of Errors

question 63

Multiple Choice

Which of the following controls can minimize the threat of errors in supplier invoices?

• A)The use of positive pay.
• B)Do not inform receiving employees about quantity ordered.
• C)The use of ERS.
• D)Perpetual inventory system.

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Definitions:

Compounded Annually

Occurs when interest is added to the principal sum of an investment or loan once per year, resulting in interest on interest.

Compounded Annually

Interest calculation method where interest is added to the principal once a year, leading to an exponential increase.

Compounded Semiannually

The process of calculating interest on both the initial principal and the accumulated interest from previous periods, done twice a year.

Monthly Compounding

The process of computing interest on an amount where the calculated interest is added to the principal at the end of each month for the purpose of calculating future interest.