Week 7 Assignment

LaTeena Moore Week 7 Assignment 18-18 A) A client erroneously record a large bribe twice. Which of the following intrinsic run mea certains would be most likely to detect this misconduct in a timely and efficient manner? (2) cooperative marketers periodical statements with subsidiary accounts payable ledger accounts. B) Budd, the purchasing federal agent of Lake computer hardw are Wholesalers, has a relative who owns a sell hardware store. Budd staged for hardware to be delivered by manufacturers to the retail store on a COD basis, thereby enabling his relative to misdirect at Lakes wholesale prices. Budd was believably able to bring through this because of Lakes poor ingrained construe over (2) purchase parliamentary procedures. C) Which of the following is an internal control that will prevent paid cash disbursement documents from being presented for payment a countenance time? (2) The official subscribe the check compares the check with the d ocuments and should flaw the documents. 18-21 A) affirm whether each surgery above is originally a test of control or substantive test of minutes. B) State the purpose(s) of each procedure. These are my answers for A and B above. 1.

Trace exertions recorded in the eruditenesss ledger to gestateing documentation, canvas the vendors name, total dollar amounts, and authorization for eruditeness. This is in the main a test of controls. The purpose is to ascertain if the documentation bread and butter learning transactions are properly recorded. This accommodates sure that acquisition journal has authorization for purchase, the vendors name, and the total dollar amounts. So the acquisition entries are sup! ported by adequate information. 2. Examine documents in support of acquisition transactions to make sure that each transaction has an approved vendors invoice, receiving report, and purchase order included. This is primarily a test of control. The purpose of this test to make sure that an acquisition transaction is backed by the vendors invoice,...If you hope to return a full essay, order it on our website: OrderEssay.net

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