Lise Couture is documenting the purchasing and cash payments processes at Hardies Wholesaling. Hardies Wholesaling imports garden and landscaping items, such as pots, furniture, fountains, mirrors, and sculpture, from suppliers in Southeast Asia. All items are non-perishable; are made from materials such as stone, concrete, metal, and wood; and are distributed to retailers throughout the country. Purchases are denominated in U.S. dollars, which the company acquires under forward exchange contracts. The purchasing department initiates a purchase order when inventory levels reach reorder points or sales staff notify the department of large customer orders that need to be specially filled. The purchase order is approved and sent to suppliers selected from an approved supplier list. Goods are transported from Southeast Asia by ship and are delivered by truck to Hardies Wholesalings central warehouse. A receiving report is generated by the receiving department and forwarded to the accounts payable department for matching with the copy of the original purchase order and the suppliers invoice. When the package of documents is completed, the purchase order and invoice are entered into the general ledger. The cash payments department initiates a voucher to request payment of the invoice according to the suppliers payment terms. The payment is approved and the cash payment is made.

Which of the following duties in the above process should be segregated? (4 correct answers)

Initiating the purchase order and creating the requisition

Creating the requisition and receiving the goods

Authorizing the purchase and recording the goods received

Approving suppliers and paying suppliers

Paying suppliers and requisitioning goods

Matching the purchase order to the invoice and recording the payable