Which Control Would Best Prevent Payments Made to Fictitious Vendors

question 41

Multiple Choice

Which control would best prevent payments made to fictitious vendors?

• A)Allow payments only to approved vendors.
• B)Restrict access to any payment or approval documents.
• C)Have an independent bank reconciliation.
• D)Make sure all documents are in order before approving payments.

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Definitions:

Labor Markets

The supply and demand for labor, where employers seek to hire workers, and individuals look for employment.

Compensating Differential

The difference in wages that arises to compensate workers for the non-monetary aspects of different jobs, like risk levels, working conditions, or job location.

Malpractice Insurance

A type of professional liability insurance purchased by healthcare professionals to cover the cost of being sued for malpractice.

Labor Markets

Markets where labor services are exchanged for wages; involves the interaction of employers (demand for labor) and workers (supply of labor).