In the Acquisition/payment Process, General Ledger Software Can Strengthen Internal

question 57

Multiple Choice

In the acquisition/payment process, general ledger software can strengthen internal control by:

• A) Requiring purchasing agents to change their passwords every six months.
• B) Assigning a sequential number to each journal entry.
• C) Making it easier for the cash disbursements clerk to complete a bank reconciliation.
• D) Ensuring that document matching policies are enforced.

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Definitions:

Price Comparisons

The act of evaluating the prices of similar products or services from different vendors or stores.

Online Classified Ads

Web-based advertisements placed on specialized platforms that allow users to buy, sell, or trade goods and services.

C2C E-Commerce

Consumer-to-Consumer Electronic Commerce involves transactions of goods and services between consumers, facilitated by third-party platforms like eBay or Craigslist.

Server Address

A specific identifier, often an IP address or domain name, that is used to locate and access a server over a network.