Which of the Following Items Must Be Examined by the Controller

question 243

Multiple Choice

Which of the following items must be examined by the controller or treasurer before signing a check?

• A) the ledger
• B) the purchase order
• C) the confirmation report
• D) the journal entry

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Definitions:

Market Price

is the current price at which an asset or service can be bought or sold in the open market.

Marginal Cost

The elevation in aggregate expenditure triggered by the output of one supplementary unit of a good or service.

Profit

The financial gain obtained when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Sales Revenue

The total amount of money generated from the sale of goods or services before any costs or expenses are deducted.