[Anonymous]

Which of the following internal control activities is not usually performed in the vouchers payable department?

A. Matching the vendor’s invoice with the related receiving report.

B. Approving vouchers for payment by having an authorized employee sign the vouchers.

C. Indicating the asset and expense accounts to be debited.

D. Accounting for unused prenumbered purchase orders and receiving reports.

Correct answer on Becker is D. Can you explain why D is correct answer? Who does D, then?

[zonast]

When I saw this question during my study, I dubbed it a “stupid” question…technical term.

[zonast]

[Almost Done]

The Purchasing Department maintains and issues all Purchase Orders, so I believe they are responsible for the safeguarding of unused PO's

BEC: Passed
REG: Passed
FAR: Passed
AUD: Passed

[jpat1980]

Vouchers Payable = Accounts Payable = Recording Function

Purchasing Department = Authorizing Function

Treasurer = Custody Function

AUD-68,74,88
REG-81
BEC-75
FAR-71,79
(Primary: Becker | Supplemental: Wiley MCQ's, Ninja Notes)

CFP - passed(3/2013)
(KIER, College for Financial Planning-cffp.edu, Jeff Rattiner Books and Notes)

[Author]

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