Which of the following control procedures mitigates the threat of duplicate payments? Select one: a. When an invoice is paid, the invoice and the entire voucher package should be canceled (for example marked “paid”) in a way that it cannot be submitted again. b. When evaluated receipt settlement (invoice-less system) is used, receiving reports need not be marked as paid as no invoices are generated. c. Photocopied invoices can be paid. d. Invoices should be approved for payment only when accompanied by a valid purchase order.
Which of the following control procedures mitigates the threat of duplicate payments? Select one: a. When an invoice is paid, the invoice and the entire voucher package should be canceled (for example marked “paid”) in a way that it cannot be submitted again. b. When evaluated receipt settlement (invoice-less system) is used, receiving reports need not be marked as paid as no invoices are generated. c. Photocopied invoices can be paid. d. Invoices should be approved for payment only when accompanied by a valid purchase order.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which of the following control procedures mitigates the threat of duplicate payments?
Select one:
a. When an invoice is paid, the invoice and the entire voucher package should be canceled (for example marked “paid”) in a way that it cannot be submitted again.
b. When evaluated receipt settlement (invoice-less system) is used, receiving reports need not be marked as paid as no invoices are generated.
c. Photocopied invoices can be paid.
d. Invoices should be approved for payment only when accompanied by a valid purchase order.
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