Which of the Following Are IT Controls That We Might

question 72

Multiple Choice

Which of the following are IT controls that we might expect to find in the business process?

• A)goods are received only for items with a valid requisition order
• B)the accounting system matches information on the purchase order and the receiving report with the vendor invoice before the invoice is paid
• C)the asset or expense is recognized based on the date on the receiving report
• D)IT system prepares reports listing purchase orders where the goods have been received,and receiving reports that have been invoiced
• E)IT system restricts access to individuals authorized to read purchase orders,receiving reports,and vendor invoices
• F)both A and D
• G)both B and C

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Definitions:

Cash Over

This term indicates a situation where the actual amount of cash exceeds the expected or recorded amount, often in a cash register or in accounting records.

Income Statement

A financial statement that shows the income, expenses, and profits over a specific period, indicating the financial performance of a business.