Proper Authorization for Acquisition Is Useful for Management as an Internal

question 109

Multiple Choice

Proper authorization for acquisition is useful for management as an internal control procedure, because it:

• A) ensures that goods/services are used efficiently by company employees.
• B) ensures that goods/services were purchased from approved vendors.
• C) ensures that goods/services were purchased according to company policy.
• D) ensures that goods/services were purchased at the lowest possible price.

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Definitions:

Class Interval

A range of values within which a variable can be categorized in the distribution of data.

Distribution

The way in which something is shared or spread out over a range, often referring to the distribution of values in a set of data.

Frequency Polygon

A graphical representation of the distribution of a dataset. It shows the frequencies of classes or intervals of data as points, which are connected by line segments.

Class Interval

A range of values used in the grouping of a set of data points in a frequency distribution.