Which Control Would Be Best to Prevent Payments Made to Fictitious

question 59

Multiple Choice

Which control would be best to 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

---

Definitions:

Federal Exemptions

Specific protections provided by federal law that prevent certain property or assets from being seized or sold to repay debts.

Michigan Exemptions

Legal provisions in Michigan allowing debtors to keep certain property out of reach from creditors during bankruptcy and collections.

Bankruptcy Court

A specialized federal court that handles cases involving bankruptcy filings and related legal issues.

Chapter 7

A provision under the U.S. Bankruptcy Code involving the liquidation of a debtor's assets to pay off creditors.