The following set of items describes activities completed by a company in purchasing and paying for merchandise.For each activity,identify whether or not the activity adheres to or violates sound internal control procedures.
-All documents attached to an invoice approval form are canceled before a check is signed.
A)Adheres to sound internal control procedures
B)Violates sound internal control procedures
C)Neither strengthens nor violates internal control

Question

Quizplus · Accepted Answer

Canceling all documents attached to an invoice approval form before a check is signed is a good practice as it ensures that no duplicate payments are made and that the payment is authorized and recorded accurately. This strengthens internal control procedures.

The Following Set of Items Describes Activities Completed by a Company