Which of the Following Would Probably Be the Least Effective

question 101

Multiple Choice

Which of the following would probably be the least effective control to mitigate the risk of paying a phony invoice payable for inventory purchases that were never made?

• A)Only pay from original invoices.
• B)Require three-way match for all inventory purchase invoices.
• C)Cancel all invoices and supporting documentation when paid.
• D)Establish strict access and authorization controls for the approved vendor master file.

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Definitions:

Specific Performance

A legal remedy in contract law that requires a party to perform their obligations under a contract, rather than only compensating the other party with money.

Agreement

A mutual understanding or arrangement between two or more parties, often formalized by a contract, regarding their rights and responsibilities.

Tender

An offer by a contracting party to perform, along with being ready, willing, and able to perform, a duty outlined in the contract.

Conditional Contracts

Legal agreements that require certain conditions to be met before they are fully enforceable.