Describe an Internal Control Procedure That Would Prevent Issuing Two

question 3

Essay

Describe an internal control procedure that would prevent issuing two checks in payment of the same invoice.

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Definitions:

Percent Defective

Percent Defective is a quality metric that represents the percentage of units in a batch that are not meeting the required standards or specifications.

Acceptance Sampling

A statistical quality control method used to decide whether to accept or reject a lot of products by inspecting a random sample rather than the entire batch.

Capable

The quality of being able to achieve a specified task or outcome efficiently and effectively.

Consumer's Risk

The probability of accepting a defective product or service because the inspection or test fails to detect the flaw.