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Determine Whether Each of the Following Is an Internal Control

Question 195

Essay

Determine whether each of the following is an internal control strength or weakness
1.Receiving department manager places an order with the vendor for merchandise inventory.
2.A voucher is used to certify a transaction and authorize recording of the liability.
3.Goods are received by the receiving department and documented with a receiving report.
4.Accounting department pays the vendor's invoice before goods are received.
5.Invoices are paid after completion of the invoice approval documenting the purchase requisition,purchase order,receiving report,invoice,and approval for payment.

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