Tests of controls for the acquisition and payment cycle are usually divided into:
A) tests of acquisitions and payment.
B) tests of authorization and payment.
C) tests of authorization and acquisition.
D) tests of acquisitions and classification.

Question

Quizplus · Accepted Answer

Tests of controls for the acquisition and payment cycle typically focus on the processes of acquisitions and payment to ensure that transactions are properly authorized, recorded, and paid.

Tests of Controls for the Acquisition and Payment Cycle Are