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Match the question on the internal control questionnaire for the acquisition cycle to the appropriate assertion. A. Are the unmatched receiving reports reviewed periodically? B.
Match the question on the internal control questionnaire for the acquisition cycle to the appropriate assertion.
A. Are the unmatched receiving reports reviewed periodically?
B. Are vendor statements reconciled to accounts payable ledgers?
C. Are vendor invoices matched to purchase orders and receiving reports before being entered into the system?
ASSERTIONS
1. Existence/Occurrence 2. Completeness
3. Valuation 4. Presentation/Disclosure
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