Which of the following procedures is least effective in preventing the purchasing agent from receiving kickbacks?   a. Prenumbering and periodically accounting for all purchase orders     b. Requiring purchasing agents to disclose any financial investments in potential suppliers     c. Requiring approval of all purchase orders     d. Maintaining a list of approved vendors and requiring all purchases to be made from vendors on that list

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following procedures is least effective in preventing the purchasing agent from receiving kickbacks?

 

a. Prenumbering and periodically accounting for all purchase orders

 
 

b. Requiring purchasing agents to disclose any financial investments in potential suppliers

 
 

c. Requiring approval of all purchase orders

 
 

d. Maintaining a list of approved vendors and requiring all purchases to be made from vendors on that list

 

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