Question

1-

The receiving department should be instructed not to accept goods without having on file a properly authorized:

1. A) invoice.

2. B) purchase order.

3. C) receiving report.

4. D) purchase requisition

2-

The quantity ordered may not be displayed on the copy of the purchase order sent directly to the:

1. A) requesting department.

2. B) vouchers payable department.

3. C) receiving department.

4. D) accounts receivable department.

3-

Which of these is not a risk factor for payroll?

1. A) payments to fictitious employees.

2. B) payment to actual employees for hours not worked.

3. C) payments to actual employees at higher than authorized rates.

4. D) None of the above; all are considered risk factors for payroll.

Answer 1

1. Answer : Receiving Report

Receiving report states that how many goods we have ordered and how many goods we have returned and how much we owe to the supplier. Therefore the goods should not be accepted until a receiving report is received.

2. Answer : voucher payable department

When we are sending an purchase order to voucher payable department we need not mention the quantity ordered

3. Answer : None of the above

All of the above are considered as risks