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. A threat to the expenditure cycle that involves an employee creating and approving fictitious purchase orders is kno

. A threat to the expenditure cycle that involves an employee creating and approving fictitious purchase orders is kno

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 6MC: A company is trying to set up proper internal controls for their accounts payable/inventory...
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1. A threat to the expenditure cycle that involves an employee creating and approving fictitious purchase orders is known as:
A. Inventory theft
B. Unauthorized access
C. Check tampering
D. Billing schemes
2.  Purchase orders are used to initiate a payment in the disbursement cycle. True or False
3.Vendor audits are conducted to address the threat of unauthorized access in the disbursement cycle. True or false
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