Which of the following duties should be performed by different staff members in the acquisitions and payments cycle in order to achieve proper segregation of duties? (Please note there could be more than one correct alternative.) Select all the correct alternatives.

Question

Which of the following duties should be performed by different staff members in the acquisitions and payments cycle in order to achieve proper segregation of duties? (Please note there could be more than one correct alternative.)  Select all the correct alternatives.

Answer

Ordering good from suppliers and recording purchases in the accounting records

Answer

Performing a quantity check on goods received and signing as acknowledgement of acceptance of the goods

Answer

Receiving invoices from suppliers and performing supplier statement reconciliations

Answer

Obtaining quotations from suppliers and preparing a purchase order

Answer

Approving new suppliers and preparing a purchase order

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Which of the following duties should be performed by different staff members in ...

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