Which of the following functions is not included in the typical expenditure cycle involving goods?

Group of answer choices

Placing an order for goods or services

Ascertaining the validity of payment obligations

Processing a credit memo

Posting to the accounts payable subsidiary ledger

Disbursing payments to the vendors

At the time of the event, which of the following does not result in a journal entry and an update of information in the general ledger?

Group of answer choices

Making a payment to the vendor

Processing of a sales order

Shipping and billing the customer

Receiving cash from the customer

Approving payment for the vendor

Which of the following statements is not true regarding XBRL?

Group of answer choices

XBRL requires accountants and systems professionals to tag data for management reports

XBRL reduces the need for information to be manually reentered into analysis tools

XBRL creates unique tags for each data item

XBRL is specifically designed for use in communicating the content of financial data

XBRL reduces the need to produce multiple reports

Reconciliations of the General Ledger Control Accounts to the Subsidiary Ledgers are an example of

Group of answer choices

Segregation of duties

Logical access controls

Data entry controls

Output controls