What Type of Error or Fraud Might Happen If the Accounts

question 82

Essay

What type of error or fraud might happen if the accounts payable ledger is not periodically reconciled to the control account in the general ledger?

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Definitions:

Authority

The legal or rightful power to make decisions, direct others, or enforce obedience, often found in contexts such as government, military, or organizational hierarchies.

Constitutional Monarchy

A system of government in which a monarch acts as head of state within the parameters of a written or unwritten constitution.

Confederation

A union of sovereign groups or states, united for purposes of common action often in relation to other states but with retained sovereignty.

Institutional Law

Laws and legal principles concerning the functioning and structure of organizations or institutions.