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Chapter: 11 / Q: 11.1
Distinguish among the three categories of expenses. Provide an example of each
Chapter: 11 / Q: 11.2
What major types of transactions occur in the purchasing process?
Chapter: 11 / Q: 11.3
What financial statement accounts are affected by each of those transactions?
Chapter: 11 / Q: 11.4
Describe the purchase requisition, purchase order, receiving report, vendor invoice, and voucher
Chapter: 11 / Q: 11.5
Why would an entity combine all documents related to a purchase transaction into a \"voucher packet\"?
Chapter: 11 / Q: 11.6
List the key segregation of duties in the purchasing process. What errors or fraud can occur if such duties are not segregated?
Chapter: 11 / Q: 11.7
List two inherent risk factors that directly affect the purchasing process. Why should an auditor be concerned about these issues
Chapter: 11 / Q: 11.8
What control activities typically ensure that the occurrence, authorization, and completeness assertions are met for a purchase transaction?
Chapter: 11 / Q: 11.10
Identify two tests of controls that could be performed using computer-assisted audit techniques (CAATs) for purchase transactions
Chapter: 11 / Q: 11.12
List two substantive analytical procedures that can test accounts payable. What potential errors or fraud can be identified by each analytical procedure?
total questions: 495

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