Multiple Choice
Which one of the following duties should not be assigned to the purchasing department?
A) finding the lowest cost vendor
B) reviewing vendors' catalog descriptions and prices for standardized items
C) designing the purchase order form
D) authorizing the acquisition of goods
Correct Answer:
Verified
Correct Answer:
Verified
Q41: In the processing and recording of cash
Q42: When assets are being verified, auditors focus
Q43: Auditing the acquisition and payment cycle often
Q44: After a check prepared for payment to
Q45: A vendor invoice is normally prepared at
Q47: Smaller privately held companies may not maintain
Q48: Which of the following is not an
Q49: Which of the following accounts is not
Q50: List the four business functions in the
Q51: When auditors examine vendors' statements or receive