Which of the following is not a factor that tends to increase the inherent risk for purchasand payables?
A) the number of directors.
B) A high volume of transactions.
C) issues over costs being capitalized versus expensed
D) all are factors that tend to increase the inherent risk for purchases and payables.
Correct Answer:
Verified
Q3: Purchase orders become part of the transaction
Q4: Payroll functions include all of the following
Q6: A responsibility not normally assigned to receiving
Q7: Segregation of the functions of payroll and
Q20: A proper cut-off of payment transactions at
Q22: Prior to recording purchastransactions, supplier's invoicare checked
Q23: Wage rate increasshould be authorized in writing
Q27: For the purchasing firm the processing of
Q28: Payroll functions include all of the following
Q54: An important consideration in assessing inherent risk
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