Please answer multichoice question in photo. There may be more than one answer In the expenditure cycle, the control procedure of comparing inwards goods documents to vendor invoices is designed to reduce the risk of:Failure to take advantage of discounts for prompt payment.Mistakes in posting to accounts payable.Theft of inventory.Paying for items not received.

Solution : Correct answer are -failure to take advantage of discounts for prompt…

In the expenditure cycle, the control procedure of comparing inwards goods documents to vendor invoices is designed to O Failure to take advantage of discounts for prompt payment. O Mistakes in posting to accounts payable. O Theft of inventory. O Paving for items not received

In the expenditure cycle, the control procedure of comparing inwards goods documents to vendor invoices is designed to O Failure to take advantage of discounts for prompt payment. O Mistakes in posting to accounts payable. O Theft of inventory. O Paving for items not received

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter11: Auditing Inventory, Goods And Services, And Accounts Payable: The Acquisition And Payment Cycle

Section: Chapter Questions

Problem 18CYBK

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Please answer multichoice question in photo. There may be more than one answer

In the expenditure cycle, the control procedure of comparing inwards goods documents to vendor invoices is designed to reduce the risk of:
Failure to take advantage of discounts for prompt payment.
Mistakes in posting to accounts payable.
Theft of inventory.
Paying for items not received.

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