Which One of the Following Control Procedures Would Not Apply

question 64

Multiple Choice

Which one of the following control procedures would not apply to the automated receipt of goods?

• A)defined procedures for counting the quantity of goods received
• B)access,edit,and reasonableness controls built into the computerized accounting application
• C)reconciliation of the purchaser's production data with the vendor's billing
• D)a contract specifying terms of delivery,penalties,billing and payment terms,and a process for resolving differences

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Definitions:

Taxable Income

The portion of an individual's or corporation's income that is subject to taxes by the government, after all deductions and exemptions.

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (income), showing the percentage of income paid in taxes.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a percentage change.