Question

4.	Bill of ladings for goods shipped from a vendor to the purchasing company should always include the company's purchase order number. True    False

5.	The receiving department receives a "blind" copy of the purchase order which does not include the vendor's name and address. True    False

6.	The auditors' "search for unrecorded liabilities" should emphasize payments made shortly after the end of the year. True    False

7.	Auditors should inspect the "unmatched receiving report" file to determine whether the liability for the receipt of goods has been recorded. True    False

8.	Proper separation of duties involves the purchasing department as the recordkeeping function. True    False

14.	The principal goal of the physical inspection of property, plant, and equipment is to determine actual valuation of property. True    False

Answer 1