Which of the following objective descriptions is properly matched with its control objective? Transactions are properly authorized - no overstatement in the accounting records O Transactions are valid - no overstatement in the accounting records Transactions are recorded - no overstatement in the accounting records O Transactions are recorded accurately - no overstatement in the accounting records to another question will save this response. Which of the following documents is not part of the three-way match often referred to as a "voucher O Purchase order O Vendor invoice Debit memo Receiving report Moving to another question will save this response. estion 21 Which of the following expenditure cycle threats is properly matched with a control procedure that helps reduce the th O Failing to take advantage of purchase discounts - Goods are inspected by at least two personnel Paying the same invoice twice - Require purchases to be made only from approved suppliers Accidental loss or corruption of purchasing data - Restrict access to the supplier master data file Theft of inventory - Accept only deliveries for which an approved purchase order exists Which of the following would be a secondary key in a receiving report table in an expenditure cycle? Inventory item number O Receiving report number Invoice number Receiving report date Which of the following is not a common way of classifying control activities? O Physical vs. logical controls O Preventive vs. detective controls. General vs. application controls O All of the above are common ways of classifying control activities Question 24 ABC Corporation incorrectly logged the shipping terms for many of its sales made near fiscal year end. As a result, many has been violated? Transactions should be authorized Transactions should be valid O Transactions should be recorded Transactions should be accurate uestion 25 Which of the following is true about the COSO Internal Control Framework? The most important component of the Framework is monitoring The Framework addresses the issue of internal control with a very heavy emphasis and focus on IT The Framework encourages corrective procedures instead of preventative or detective controls The Framework is widely accepted as the authority on internal controls