Questions 1 when company management makes vendors and, Ask an Expert

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Questions: 1) When company management makes vendors and suppliers aware of company policies and procedures, what frequently occurs?

- Vendor and supplier purchases increase

- Fraud risk is reduced

- Procurement fraud increases

- Vendor and supplier relationships deteriorate

2) A retail home improvement chain had decreased profitability in the past 6 months due to bad debts. In order to increase sales, store managers have allowed customers to make large credit purchases without a credit review. Which type of internal control is missing from the chain's internal control system?

- Separation of duties

- Documentation

- Authorization

- Independent checks

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92709740

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