Match the threats in the left column to appropriate control procedures in the right column More than one control may be applicable Control Procedure 2. Accept only deliveries for which an approved purchase order exists. b. Document all transfers of inventory. Threat 1. Failing to take available purchase discounts for prompt payment 2. Recording and posting errors in accounts payable 3. Paying for items not received 4. Kickbacks 5. Theft of inventory 6. Paying the same invoice twice 7. Stockouts S. Purchasing items at inflated prices c. Restrict physical access to inventory d. File invoices by due date. e. Maintain a cash budget f Conduct an automated comparison of total change in cash to total changes in accounts payable. & Adopt a perpetual inventory system. h. Require purchasing agents to disclose financial or personal interests in suppliers. i Require purchases to be made only from approved suppliers. j. Restrict access to the supplier master data. k Restrict access to blank checks. 9. Misappropriation of cash 10. Purchasing goods of inferior quality 11. Wasted time and cost of returning unordered merchandise to suppliers 12. Accidental loss of purchasing data 13. Disclosure of sensitive supplier information (eg., banking data) 1 Issue checks only for complete voucher packages (receiving report, supplier invoice, and purchase order) m. Cancel or mark Paid" supporting documents in voucher package when check is issued 1. Carry out a regular backup of expenditure cycle database 0. Train employees in how to properly respond to gifts or incentives offered by suppliers. P. Hold purchasing managers responsible for costs of scrap and rework 4. Ensure that someone other than the cashier reconciles bank accounts Match the terms with their definitions: 1. economic order quantity (EOQ) a 2. materials requirements planning (MRP) 3. just-in-time (JIT) inventory system c. 4. purchase requisition Document that creates a legal obligation to buy and pay for goods or services b. Method used to maintain the cash balance in the petty cash account The time to reorder inventory triggered when the quantity on hand fails to a predetermined level d. Document used to authorize a reduction in accounts payable because merchandise has been returned to a supplier c. Inventory control system that triggers production based upon actual sales Inventory control system that triggers production based on forecasted sales g. Document used only intemally to initiate the purchase of materials, supplies, or services h. Process for approving supplier invoices based on a two-way match of the receiving report and purchase order 5. imprest fund 6. purchase order 7.kickbacks os procurement card 9. blanket purchase order 10. evaluated receipts settlement (ERS) 11. disbursement voucher 12. receiving report 13. debit memo 14. vendor-managed inventory i. Process for approving supplier invoices based on a three-way match of the purchase order, receiving report, and supplier invoice j. Method of maintaining accounts payable in which each supplier invoice is tracked and paid for separately k Method of maintaining accounts payable that generates one check to pay for a set of invoices from the same supplier 1 Combination of a purchase order, receiving report, and supplier invoice that all relate to the same transaction 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 0. 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 Special-purpose credit card used to purchase supplies S. Fraud in which a supplier pays a buyer or purchasing agent in order to sell its products or services 15. voucher package 16. nonvoucher system 17. voucher system