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Title: When reviewing the controls and procedures in the acquisition and payment cycle, Post by: Heybonita on Aug 1, 2022 When reviewing the controls and procedures in the acquisition and payment cycle,
▸ companies cannot record the liability for the acquisition until the invoice is received from the vendor. ▸ the purchasing department has the responsibility for verifying for appropriateness of the acquisition. ▸ personnel who record the acquisitions should not have access to cash or other assets. ▸ the accounts payable department should account for all receiving reports to assure that the occurrence objective is satisfied. Title: When reviewing the controls and procedures in the acquisition and payment cycle, Post by: lingo94 on Aug 1, 2022 Content hidden
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