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.