ICAEW ARF · Chapter 5 · Question 11 of 11
Which control best reduces the risk of a supplier invoice being paid twice?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Invoices are marked as paid when settled, and the system rejects duplicate invoice numbers for the same supplier
Explanation
Cancelling invoices once paid and having the system reject duplicate invoice references prevents the same invoice being processed twice. Numbering purchase orders and signing goods received notes relate to ordering and receipt, not payment. Filing in date order does not stop a duplicate being processed.
More Controls over revenue and purchases MCQs
- Q2Which control best ensures that all goods despatched to customers are invoiced?
- Q3A company sends statements to all credit customers each month. Which risk does this control mainly address?
- Q4Which control best reduces the risk that credit notes are used to conceal the theft of customer receipts?
- Q5At a client, the sales clerk who raises sales invoices can also change the prices held in the system's standing data. What is the main…
- Q6In a purchases system, which three documents are typically matched before a supplier invoice is approved for payment?