ASSIGNMENT NO. 3 (Deadline Sunday 28" Nov (3 % marks) Question no. 1 which internal control procedure would be most cost effective indeling with the follow expenditure cycle att A purchasing protester from the portion ^ Breivindica personnel tenor the chain the story to the window Ardered upply oferte peper delivered to the force one per for beweer After alla serated, however, it became the organer af ferier The company to take advantage of cast for promptly nga vendorolte e company state in a varie. Careestly, a seconda sent, where the rest Inte's payment in the mail. The second swoice is submitted for processing and paid Inventory records show an adequate suph of copy page should be in stock barones available on the sy shell The investory records are correctly updated when a revod employee enters the wrong product number at the Adertenployee ottamaan check and write aborige mount payable to temos company. The emplove the cases the check Afetto voice received and checked to pay for gods never ardered or delivered The petty cash Ostodia confesses to having beef 12.000 ever the last years A purchasing and rewreco to the super master Sie. The company does not exist Street the purchagent to take company for varius nihe neare Adera preta intended for en fait to top of the remote. The chan's friend the purchase that which the deathe checkout.com ) Arcevig doonployee sosedelivery has four seas but the water only request three cases, so the employee seasidene fourth box and took theme Apurchasing en vegfarende from pericular suppliers who pay the globe tacka nerdes town orders Question no. 2 March the terms with the definition 1. 10) 2 mieliems plan MRP CIT) + and pay for Metode on the cash balance the petty cash The te dy predte quintay and it to a perdered a Doce to win ile became medias info taman pertim poli $ procera cel areas earlier Dodate the puche air Procesopplier in. of Poche Boca -wychothee part, and we | Medalutare parate = lat each piecpad for Mano puhastades - 1. ERS) 11, - Marthat at rare ter matched for at 12 So the plan Chapter all ups 13 Dociach budby 14 13. debit memo 14. vendor-managed inventory 15. voucher package 16. nonvoucher system m. Document used to list each invoice being paid by a check n. Inventory control system that seeks to minimize the sum of ordering, carrying, and stockout costs o. System whereby suppliers are granted access to point-of-sale (POS) and inventory data in order to automatically replenish inventory levels p. Agreement to purchase set quantities at specified intervals from a specific supplier 4. Document used to record the quantities and condition of items delivered by a supplier 1. Special-purpose credit card used to purchase supplies $. Fraud in which a supplier pays a buver or 17. voucher system - Question no. 3 The following list identifies several important control features. For each control, (1) describe its purpose, and (2) explain how it could be best implemented in an integrated ERP system. a) Cancellation of the voucher package by the cashier after signing the check b) Separation of duties of approving invoices for payment and signing checks c) Prenumbering and periodically accounting for all purchase orders d) Periodic physical count of inventory e) Requiring two signatures on checks for large amounts f) Requiring that a copy of the receiving report be routed through the inventory stores department prior to going to accounts payable g) Requiring a regular reconciliation of the bank account by someone other than the person responsible for writing checks h) Maintaining an approved supplier list and checking that all purchase orders are issued only to suppliers on that list
