Top Posters
Since Sunday
V
9
C
7
B
7
7
a
7
S
7
l
7
l
7
j
7
B
7
k
7
s
6
New Topic  
Heybonita Heybonita
wrote...
Posts: 39
Rep: 0 0
A week ago
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.
Textbook 

Auditing and Assurance Services


Edition: 17th
Authors:
Read 3 times
1 Reply
Replies
Answer verified by a subject expert
lingo94lingo94
wrote...
Posts: 33
Rep: 0 0
A week ago
Sign in or Sign up in seconds to unlock everything for free
More questions for this book are available here
personnel who record the acquisitions should not have access to cash or other assets.

1

Related Topics

wrote...
Posts: 39
Credits: 10

A week ago
this is exactly what I needed
wrote...
Posts: 166
Credits: 130

Yesterday
You make an excellent tutor!
wrote...
Posts: 73
Credits: 40

2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  56 People Browsing
 125 Signed Up Today
Related Images
 892
 178
 158
Your Opinion
Do you believe in global warming?
Votes: 328