51. An employee in the accounts payable will record the purchase and produce a voucher when

Select one:

a. an invoice is received.

b. inventories are received.

c. an invoice is successfully matched with a purchase order.

d. none of the above.

52. An example of poor internal control is

Select one:

a. The accountant should not have physical custody of the asset nor access to it.

b. The custodian of an asset should not maintain or have access to the accounting records.

c. One person should be responsible for handling related transactions.

d. A salesperson makes the sale, and a different person ships the goods.

53. In a bank reconciliation, an outstanding check is:

Select one:

a. added to the bank balance

b. deducted from the bank balance

c. added to the book balance

d. deducted from the book balance