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Quizizz#10 Auditing Purchases

Authored by Robert Marley

Business

Professional Development

Used 6+ times

Quizizz#10 Auditing Purchases
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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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