5.The internal control "Vouchers are prenumbered and accounted for" relates most closely to the existence objective for acquisitions.

6. A bill of lading is normally prepared at the time tangible goods are received and indicates the description of goods, the quantity received, the date received, and other relevant data.

7.A document received from the vendor indicating such things as the description and quantity of goods and services received, price including freight, cash discount terms, and date of billing is called the voucher.

8.Failure to record the acquisition of goods and services directly affects the balance in accounts payable and may result in an overstatement of net income and owners' equity.