Question

For good internal control of purchases, businesses should do all of the following except: Computations on the invoice should be checked for accuracy. Another person other than the person requesting the purchase should write the check for the payment of the invoice. Goods should be carefully checked when received. Ensure that the same person is involved in the process of buying, receiving and paying for the goods.

Name: for good internal control of purchases businesses should do all of the following except question 2 options computations on the invoice should be checked for accuracy another person other than the pers
Uploaded: 2023-08-30T20:49:22-08:00
Duration: 1 min 47 s
Channel: Aparna Shakti
Description: for good internal control of purchases businesses should do all of the following except question 2 options computations on the invoice should be checked for accuracy another person other than the pers

          For good internal control of purchases, businesses should do all of the following except:

Computations on the invoice should be checked for accuracy.

Another person other than the person requesting the purchase should write the check for the payment of the invoice.

Goods should be carefully checked when received.

Ensure that the same person is involved in the process of buying, receiving and paying for the goods.

Added by Sherill G.

Mathematics for Finance An Introduction to Financial Engineering

Marek Capinski 1st Edition

Instant Answer

Solved by Expert Aparna Shakti

08/30/2023

Step 1

Second, having another person other than the person requesting the purchase write the check for the payment of the invoice is also a good control measure. This separation of duties reduces the risk of fraud or error. Show more…

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For good internal control of purchases, businesses should do all of the following except: Computations on the invoice should be checked for accuracy. Another person other than the person requesting the purchase should write the check for the payment of the invoice. Goods should be carefully checked when received. Ensure that the same person is involved in the process of buying, receiving and paying for the goods.