The internal control process of having the receiving reports prepared on pre-numbered forms so that the sequence of receipts can be reviewed for proper recording will help to minimize the related risk of:
A)Invalid vendors
B)Omitted purchases
C)Fictitious purchases
D)Timing issues

Question

Quizplus · Accepted Answer

Having pre-numbered receiving reports can help ensure that all purchases are recorded and that none are omitted. It does not directly address issues of invalid vendors, fictitious purchases, or timing issues.

The Internal Control Process of Having the Receiving Reports Prepared