are questions set up like this likely to be asked on real exam?
Which of the following internal control activities is not usually performed
in the vouchers payable department?
a. Accounting for unused prenumbered purchase orders and receiving
reports.
b. Matching the vendor's invoice with the related receiving report.
c. Approving vouchers for payment by having an authorized employee
sign the vouchers.
d. Indicating the asset and expense accounts to be debited.
.
.
.
.
naturally I said ‘D' because that is not something the vouching department does, but:
Explanation
Choice “a” is correct. Accounting for unused prenumbered purchase
orders and receiving reports is an effective control, but it would not
typically be performed in the vouchers payable department.
Choice “b” is incorrect. Reconciling the vendor invoice with the related
receiving report is typically performed by a vouchers payable clerk.
Choice “c” is incorrect. The vouchers payable department is responsible
for approving vouchers for payment.
Choice “d” is incorrect. Indicating the asset and expense accounts to be
debited is not an internal control procedure
.
.
.
so I am wondering, do questions sometimes ask “which of the following procedures isnt”…. then go on to give you an option of something that is not a procedure, thereby eliminating it from contention.
✓ AUD: (85) Apr2014 ~~ (87) Apr2016
✓ FAR: (74) Aug2015 ~~ (74) Oct2015 ~~ (79) Jun2016
✓ BEC: (77) Apr2015
REG: ___
.