Reference no: EM132823390

Problem 1: When accounts payable and purchasing systems are highly automated, more detail is included in the transaction files. This deeper level of detail is illustrated by including

A) economic order quantities for each item that is held in inventory, including delivery times.

B) quantities, prices, and item descriptions from each line of the vendor invoice.

C) sequentially numbered purchase requisitions and purchase orders (with matching numbers).

D) receiving report numbers that match the numbers on the vendor invoices for improved tracking.

Problem 2: The most common fraud in the acquisitions area is for the perpetrator to

A) alter the cheque payment file before it is printed so that the payee name is changed.

B) issue payments to fictitious vendors and deposit the cheques to a fictitious account.

C) change the optical characters at the bottom of a cheque to alter the account to be credited.

D) issue duplicate payments for invoices and then pocket the second cheque.