Week 7 Assignment

LaTeena Moore Week 7 Assignment 18-18 A) A client erroneously record a large bribe twice. Which of the following cozy run mea certains would be most likely to detect this misplay in a timely and efficient manner? (2) cooperative marketers periodical statements with subsidiary accounts payable ledger accounts. B) Budd, the purchasing ingredient of Lake computer hardw are Wholesalers, has a relative who owns a sell hardware store. Budd staged for hardware to be delivered by manufacturers to the retail store on a COD basis, thereby change his relative to misdirect at Lakes wholesale prices. Budd was belike able to bring through this because of Lakes poor inwrought authority over (2) purchase nightclubs. C) Which of the following is an internal control that will prevent paid cash disbursement documents from world presented for payment a countenance time? (2) The official sign language the check compares the check with the documents and should flaw t he documents. 18-21 A) affirm whether distributively office above is originally a test of control or substantive test of minutes. B) State the purpose(s) of each procedure. These are my answers for A and B above. 1.

Trace exertions recorded in the eruditenesss ledger to gestateing documentation, comparability the vendors name, total dollar amounts, and authorization for learning. This is in the first place a test of controls. The purpose is to ascertain if the documentation financial backing encyclopedism transactions are properly recorded. This nets sure that acquisition journal has authorization for purchas e, the vendors name, and the total dollar am! ounts. So the acquisition entries are supported by adequate information. 2. Examine documents in support of acquisition transactions to make sure that each transaction has an approved vendors invoice, receiving report, and purchase order included. This is primarily a test of control. The purpose of this test to make sure that an acquisition transaction is backed by the vendors invoice,...If you pauperism to return a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay