
Quizizz#10 Auditing Purchases
Quiz
•
Business
•
Professional Development
•
Practice Problem
•
Easy
Robert Marley
Used 6+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The source document for an employee's request for a new computer
Purchase Order
Requisition Report
Receiving Report
Vendor Invoice
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Responsible for inspecting purchases but not for making the purchases
Receiving Department
Purchasing Department
Accounts Payable Department
Invoice Department
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
In a well designed accounting information system, accounts payable is responsible for paying vendor invoices
True
False
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The primary control for purchase completeness is
Requisition and purchasing should be seperate
Payment should not be made without a purchase order & receiving report
Sequentially numbered source documents
Bank reconciliations
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The primary control for cash disbursement existence is
Bank reconciliations
Sequentially numbered checks
Sequentially numbered journal entries
Monthly cut-off tests
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The inherent riskiness of overstating accounts payable
High
Medium
Low
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The primary control for cash disbursement completeness
Requisitioning & disbursement should be seperate
pre-numbered checks
Receiving & disbursement should be seperate
Receiving reports
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