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Author Question: In the expenditure cycle, Financial Electronic Data Interchange (FEDI) increases efficiency by (Read 154 times)

bio_gurl

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Question 1

Which control would best prevent payments made to fictitious vendors?
◦ Allow payments only to approved vendors.
◦ Restrict access to any payment or approval documents.
◦ Have an independent bank reconciliation.
◦ Make sure all documents are in order before approving payments.

Question 2

In the expenditure cycle, Financial Electronic Data Interchange (FEDI) increases efficiency by
◦ eliminating the need for receiving reports.
◦ eliminating the need for vendor invoices.
◦ eliminating the need for purchase orders.
◦ eliminating the need to prepare and mail checks.


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Marked as best answer by bio_gurl on Apr 8, 2019

jamesnevil303

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