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41.              A purchase order would be prepared after a purchase

Question : 41.              A purchase order would be prepared after a purchase : 1410853

 

 

41.              A purchase order would be prepared after a purchase requisition.

 

 

42.              A check authorization would be prepared before a receiving report.

 

 

43.              Another term for an invoice is a bill.

 

 

44.              In addition to keeping the records of a purchase transaction, the accounting department should prepare and mail checks in payment of invoices.

 

 

45.              Effective internal control requires a department to purchase supplies on its own.

 

 

46.              The treasurer should prepare and sign a check only after a proper check authorization has been provided.

 

 

47.              Sound internal control activities dictate that the amount of cash on hand should be kept to a maximum.

 

 

48.              The purchasing department prepares a purchase requisition addressed to the vendor (seller) containing instructions related to the items ordered.

 

 

49.              One example of a periodic independent verification is the bank reconciliation.

 

 

50.              Proper control procedures can guarantee the prevention of theft.

 

 

 

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