Which of the following questions would most likely be included in an internal control questionnaire concerning the completeness of purchasing transactions?
A)Is an authorized purchase order required before the receiving department can accept a shipment or the accounts payable department can record a voucher?
B)Are prenumbered purchase requisitions used and are they subsequently matched with vendor invoices?
C)Is there a regular reconciliation of the inventory records with the file of unpaid vouchers?
D)Are prenumbered purchase orders, receiving reports, and vouchers used, and are the entire sequences accounted for?

Question

Quizplus · Accepted Answer

The question focuses on the completeness of purchasing transactions, which refers to whether all purchases made by the organization are recorded and accounted for. The use of prenumbered purchase orders, receiving reports, and vouchers, and the proper accounting of their entire sequences, helps ensure that all purchases are properly recorded and accounted for. The other choices address different aspects of internal controls related to purchasing transactions.

Which of the Following Questions Would Most Likely Be Included