Multiple Choice
Before a new supplier is added into the supplier master file (or the purchasing master file) , the company should
A) conduct a credit check on the new supplier.
B) have the supplier detail matched against the invoice detail.
C) ask the purchasing manager to verify the authenticity of the supplier.
D) have the accounting department enter the necessary detail about the supplier.
Correct Answer:

Verified
Correct Answer:
Verified
Q16: Describe the three types of tests that
Q21: When automatic purchase orders are generated, to
Q23: Internal controls that are likely to prevent
Q26: Discuss the audit tests the auditor would
Q32: A set of records for each piece
Q58: The purpose of the audit procedure to
Q65: The most important objectives for amortization expense
Q67: Describe the two objectives that are most
Q68: An inventory acquisition is received late in
Q72: ZyCo has recently converted to a new