Which of the Controls Below Would Be Least Effective to Prevent

question 78

Multiple Choice

Which of the controls below would be least effective to prevent ordering goods at higher than market prices?

• A) Variance analysis of actual expenses to budgeted expenses
• B) For high-dollar goods, solicit competitive bids from possible vendors
• C) Only place orders with vendors on an approved vendor list
• D) Frequent review of, and update to, vendor price lists stored in the AIS

Understand the concept of human capital and its components.

Explain how HR can act as a strategic business partner within an organization.

Understand the immediate causes and precipitating events of the First World War.

Grasp the reasons behind the United States' entry into World War I.

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Definitions:

Fictitious-Payee Rule

A principle in commercial law that a bank is not liable for fraudulent endorsement payments if the drawer intended the payee to be fictitious.

Refund

The process of returning funds to a purchaser in response to a product return, cancellation, or dissatisfaction with services provided.

Endorser

A person who signs their name on a document, often a check, to indicate their approval or to transfer ownership to another party.

Drawer

In a financial context, the person who writes or issues a check or draft instructing a bank to pay a specified sum of money to a designated party.