Which of the following is not a key control in the acquisition and payment cycle?
A)Authorization of purchases
B)Authorization of credit
C)Timely recording and independent review of transactions
D)Authorization of payments

Question

Quizplus · Accepted Answer

Authorization of credit is not a key control in the acquisition and payment cycle. Rather, it is a key control in the sales and collection cycle. The other three options are all key controls in the acquisition and payment cycle.

Which of the Following Is Not a Key Control in the Acquisition