The receiving clerk at Wattana Technologies examines incoming shipments and checks their purchase order numbers
A receiving report is then sent to accounts payable, where it is reconciled with the relevant purchase orders and invoices and payment is authorized. Which of the following would correct control weaknesses related to the clerk's activities?
A) Controls are adequate under the current system.
B) Vendor invoices should be approved for payment by the purchasing manager.
C) Purchase orders and receiving reports should be reconciled by the purchasing manager.
D) Vendor invoices should be approved for payment by the shipping clerk after the purchase order and receiving report are reconciled.
A
You might also like to view...
Instead of suing the partnerships or other partners at law, general partners are given the right to bring a(n) ________ against other partners
A) claim for damages B) tort action C) call for action D) action for an accounting
Under Rule 10b-5, which is true about insiders?
A) Employees at all levels in a company are insiders, as well as lawyers, accountants, and consultants even when hired only on a temporary basis. B) Officers and directors are insiders, but lawyers or accountants that are hired only on a temporary basis are not insiders. C) Agents hired on a temporary nonemployee basis to provide services to the company are not insiders. D) Officers and directors are insiders, but employees who are not officers are not insiders.