Identify the control principles evidenced in the following statement: The IT department is responsible for ordering all
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Identify the control principles evidenced in the following statement:
The IT department is responsible for ordering all computers purchased by the company. When the computers are delivered, a technician signs a receiving document and sends a copy to the accounts payable department. When an invoice is received from the supplier, it is matched with the related receiving reports prior to the cheque being processed for payment.
Accounts PayableAccounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
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Related Book For
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
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