The Following Set of Items Describes Activities Completed by a Company

question 188

Multiple Choice

The following set of items describes activities completed by a company in purchasing and paying for merchandise and in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. (Choices may be used more than once.)
-All supporting documents attached to an invoice are cancelled when the cheque is signed.

• A)adheres to sound internal controls
• B)violates sound internal controls
• C)neither strengthens nor violates internal control

Learn the importance of data backup and how to implement it.

Understand the concept of cyberbullying and its consequences.

Recognize the potential internal threats to data security within organizations.

Identify phishing attempts and understand their implications.

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Definitions:

Supply Chain

The series of steps involved in manufacturing and distributing a product.

Faster Transportation

refers to the optimization of delivery and shipping processes to reduce transit times and improve the efficiency of moving goods from origin to destination.

Lower Inventories

A strategy aiming to reduce the quantity of goods or materials a company holds in stock to minimize holding costs and increase efficiency.

More Warehouses

The strategy of increasing storage space to manage inventory more effectively, improve distribution speed, and meet customer demand.