The following internal controls for the acquisition and

payment cycle were selected from a standard internal control questionnaire.

1. Approved purchase orders are required for all acquisitions of goods.

2. Prenumbered receiving reports are prepared as support for acquisitions and numerically accounted for.

3. Dates on receiving reports are compared with vendors invoices before entry into the

acquisitions journal.

4. Account classifications are reviewed by someone other than the preparer.

5. All supporting documents are cancelled after checks are signed or electronic funds

transfers are approved.

6. The authorized signer compares data on supporting documents with checks and electronic funds transfer authorizations.

7. vendors invoices are recalculated before payment.

8. All checks are signed by the owner or manager.

9. Checks are mailed by the owner or manager or a person under her supervision after

signing

13-27 OBJECTIVES 13-1, 3-4. 135) The following internal controls for the acquisition and payment cycle were selected from a standard internal control questionnaire. 1. Approved purchase orders are required for all acquisitions of goods, 2. Prenumbered receiving reports are prepared as support for acquisitions and numeri- cally accounted for 3. Dates on receiving reports are compared with vendors invoices before entry into the acquisitions Journal 4. Account classifications are reviewed by someone other than the preparer. 5. All supporting documents are cancelled after checks are signed or dectronic funds transfers Jure approved. 6. The authorized agnier compares data on supporting documents with checks and elec tronic funds transfer authorizations, 7. Vendors invoices are recalculated before payment. & All checks are signed by the owner or manager. 0. Checks are mailed by the owner or manager or a person under her supervision after signing 13-27 OBJECTIVES 13-1, 3-4. 135) The following internal controls for the acquisition and payment cycle were selected from a standard internal control questionnaire. 1. Approved purchase orders are required for all acquisitions of goods, 2. Prenumbered receiving reports are prepared as support for acquisitions and numeri- cally accounted for 3. Dates on receiving reports are compared with vendors invoices before entry into the acquisitions Journal 4. Account classifications are reviewed by someone other than the preparer. 5. All supporting documents are cancelled after checks are signed or dectronic funds transfers Jure approved. 6. The authorized agnier compares data on supporting documents with checks and elec tronic funds transfer authorizations, 7. Vendors invoices are recalculated before payment. & All checks are signed by the owner or manager. 0. Checks are mailed by the owner or manager or a person under her supervision after signing