Multiple Choice
With properly designed internal control,the same employee should not be permitted to:
A) Sign checks and cancel supporting documents.
B) Receive merchandise and prepare a receiving report.
C) Prepare disbursement vouchers and sign checks.
D) Initiate a request to order merchandise and approve merchandise received.
Correct Answer:

Verified
Correct Answer:
Verified
Q42: Unrecorded liabilities are most likely to be
Q43: Information regarding the proper cutoff of accounts
Q44: When the auditors select a sample from
Q45: Based on the company and its environment,including
Q46: Auditors may choose not to confirm accounts
Q48: A likely analytical procedure to test the
Q49: Which of the following is an example
Q50: Most of the audit work on accounts
Q51: Which of the following manipulations would understate
Q52: Which of the following best describes a