Question

In: Accounting

T/F 1. A purchase requisition should be prepared only after a purchase order and voucher are...

T/F

1. A purchase requisition should be prepared only after a purchase order and voucher are prepared and approved.

T/F

2. A receiving report should be prepared only after a “blind count is performed.”

3. Which of the following procedures is least likely to be performed before the balance sheet date?

a. testing of internal control over cash.

b. confirmation of receivables

c. search for unrecorded liabilities

d. observation of inventory

T/F

4. The receiving clerk should not count the goods received and compare the quantity received with the quantity shown on the purchase order.

T/F

5. The vouchers payable department should prepare a check after approving a voucher.

Expert Solution

1. False ,purchase requisition should be prepared before purchase order,with the help of purchase requisition purchase order is placed and voucher prepared.

2. True.

3.option c, search for unrecorded liabilities

4. False ,he should count the goods received and quantity received.

5.True.

ekkarill92 answered 2 years ago

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