An Internal Control Questionnaire for Purchases and Accounts Payable Could

Short Answer

An internal control questionnaire for purchases and accounts payable could include the following questions. Match the question to the appropriate control objective and place the identifying letter in the space provided.
A: Environment
B: Validity
C: Completeness
D: Authorization
E. Accuracy
F. Classification
G: Proper period
____ 1. Are receiving reports pre-numbered and accounted for?
____ 2. Are all purchases orders supported by properly approved purchase requisitions?
____ 3. Are vendors' invoices listed immediately upon receipt?
____ 4. Are vendors' invoices matched against purchase orders and receiving reports before a liability is recorded?
____ 5. Is the purchasing department independent of the accounting, receiving, and shipping departments?
____ 6. Are vendors' invoices checked against purchase orders and receiving reports for quantities, prices, and terms?
____ 7. Does the accounting procedures manual require that transactions be recorded on the date that goods and services are received?
____ 8. Are all goods returned to vendors supported by properly approved shipping documents?
____ 9. Is the chart of accounts adequate?
____ 10. Are vouchers and attached documents cancelled after being recorded?