Which of the Following Is the Best Control Procedure to Prevent

question 40

Multiple Choice

Which of the following is the best control procedure to prevent the payment of an invoice twice?

• A)Review of supporting documentation by the person signing the check.
• B)Requiring dual signatures on checks.
• C)Use of a check protector.
• D)Reconciliation of vendor statements to accounts payable.

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Definitions:

Investment

The allocation of resources, typically money, into assets with the expectation of generating income or profit in the future.

Machinery

Equipment with moving parts used to perform any type of work, often found in industrial or agricultural settings.

Equipment

Tangible property used in the operation of a business but not consumed or sold during the business cycle.

Independent Variable

In experiments, a variable that is manipulated to determine its effect on a dependent variable, independent of other variables.