A Company's Internal Control System Requires That an Approved Payables

question 21

Multiple Choice

A company's internal control system requires that an approved payables voucher,supported by a purchase order and a receiving report,accompany every cheque requisition.To determine whether cheques are being issued for unauthorized expenditures,an auditor is most likely to select items for testing from the population of all ________.

• A)purchase orders
• B)cancelled cheques
• C)receiving reports
• D)approved vouchers

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Definitions:

Physiological

Physiological pertains to the functions and processes of living organisms and their parts, including the physical and chemical processes contributing to life.

Action

The process of doing something towards achieving an aim, often regarded as a critical component in the implementation of strategies or plans within various contexts.

Vision

A statement or concept that describes the long-term goals or future aspirations of an organization or individual.

Leader

An individual who guides or directs a group towards achieving goals by influencing or motivating members.