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Which of the following statements about the voucher package is false? Multiple Choice It is prepared by the purchasing department to initiate the purchasing process.

Which of the following statements about the voucher package is false? Multiple Choice

It is prepared by the purchasing department to initiate the purchasing process.

It is typically reviewed and approved by an individual like an assistant controller prior to recording as a payable

It is reviewed by the treasurer before checks are signed.

It is the authorization to record a bill as an account payable and an authorization for subsequent payment

Which of the following pairs of departments in the expenditure cycle are primarily custody functions?

Multiple Choice

  • Accounts Payable and the Purchasing Department

  • Receiving Department and the Accounts Payable Department

  • Receiving Department and the Treasury Department

  • Sales Department and the Shipping Department

Which of the following pairs of departments in the expenditure cycle are primarily authorization functions?

Multiple Choice

  • Requisitioning Department and Receiving Department

  • Treasury Department and the Accounts Payable Department

  • Purchasing Department and the Requisitioning Department

  • Purchasing Department and the Accounts Payable Department

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