Hi Experts,

Will you please verify if my answers are correct. I really appreciate your help. Thank you in advance

Multiple Choice The same item code appears on different Invoices from the same vendor. The same purchase order number appears on two Invoices from the same vendor. The same Invoice date appears on different Invoices from the same vendor. Sales. Which of the following would not overstate current-period net income? Multiple Choice Capitalizing an expenditure that should be expensed. Falling to record a liability as an expense. Failing to record a check paying an item in Vouchers Payable. All of the choices would overstate net income. Multiple Choice Analyses of controls to determine the approprlate segregation of dutles in the purchasing cycle. Risk assessment procedures performed to obtain an understanding of Internal control in the purchasing cycle. Tests of automated application controls Involving check amount IImits when effective information technology general controls are present. Testing of operating effectiveness of controls over authorlzation of purchase orders. Budd, the purchasing agent of Lake Hardware Wholesalers, has a relative who owns a retail hardware store. Budd arranged for hardware to be delivered by manufacturers to the retail store on a cash-ondelivery (C.O.D) basis, thereby enabling his relative to buy at Lake's wholesale prices. Budd was probably able to accomplish this because of Lake's poor internal control over? Multiple Choice Purchase orders. Cash recelpts. Perpetual Inventory records. Purchase requisitions. Multiple Cholce Purchase orders. Canceled checks. Recelving reports. Vendors' Involces