Which of the following is a control activity in relation to occurrence?

A. When rental income is received, the accountant checks to ensure that the rental agreement with the tenant has not lapsed.

B. When rental income is received, the accountant checks that the amount is in accordance with the rental agreement.

C. The accountant reviews whether invoices have been received and processed for all advertising purchase orders.

D. The accountant reviews whether invoices have been received and processed for all building repairs purchase orders.

Question

31-12-2023
Business

High School

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Which of the following is a control activity in relation to occurrence?

A. When rental income is received, the accountant checks to ensure that the rental agreement with the tenant has not lapsed.

B. When rental income is received, the accountant checks that the amount is in accordance with the rental agreement.

C. The accountant reviews whether invoices have been received and processed for all advertising purchase orders.

D. The accountant reviews whether invoices have been received and processed for all building repairs purchase orders.

Answer :

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komalnavarre23 komalnavarre23 · Answer 1 · 2024-07-21T08:58:17-04:00

a. When rental income is received, the accountant checks to ensure that the rental agreement with the tenant has not lapsed.

This control activity in relation to occurrence ensures that the rental income recorded is valid and properly supported by an active rental agreement.b. When rental income is received, the accountant checks that the amount is in accordance with the rental agreement.This control activity verifies that the amount of rental income received aligns with the terms specified in the rental agreement, ensuring accuracy and preventing potential discrepancies.c. The accountant reviews whether invoices have been received and processed for all advertising purchase orders.This control activity focuses on the occurrence of advertising purchase orders, ensuring that invoices are received and processed for all valid transactions, minimizing the risk of unauthorized or fraudulent activities.d. The accountant reviews whether invoices have been received and processed for all building repairs purchase orders.This control activity relates to the occurrence of building repairs purchase orders. The accountant reviews whether invoices have been received and processed for all legitimate transactions, safeguarding against the possibility of unauthorized or erroneous expenses.

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