Which of the following is a control procedure that is usually applied to accounts payable?
A) Periodic confirmation of accounts payable.
B) Mailing statements to vendors detailing their account.
C) Periodic aging of accounts payable.
D) Reconciliation of vendor statements with accounts payable.

Question

Quizplus · Accepted Answer

Reconciliation of vendor statements with accounts payable is a control procedure used to ensure that the recorded liabilities match the vendor's records, helping to identify discrepancies or errors.

Which of the Following Is a Control Procedure That Is