With Respect to a Small Company's System of Purchasing Supplies

question 68

Multiple Choice

With respect to a small company's system of purchasing supplies, an auditor's primary concern should be to obtain satisfaction that supplies ordered and paid for have been:

• A) requested by and approved by authorized individuals who have no incompatible duties.
• B) used in the course of business and solely for business purposes during the year under audit.
• C) received, counted, and checked to quantities and amounts on purchase orders and invoices.
• D) properly recorded as assets and systematically amortized over the estimated useful life of the supplies.

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Definitions:

Deviance

Behaviors or actions that violate social norms and expectations, often eliciting negative social reactions.

Chambliss

Refers to William J. Chambliss, a sociologist known for his work on the conflict theory and the sociology of law.

Vagrancy Laws

Legislation that criminalizes the act of wandering without a permanent home or means of support, often targeted at homeless individuals.

Law In Action

The practical application or enforcement of laws in real-life situations, as opposed to theoretical or written legal codes.