Purchases

NotesQuizCBEMock

The control objectives for the purchases cycle are..

As follows:

  1. Purchases made only when needed.

  2. Purchased at a reasonable price.

  3. The goods have satisfactory quality.

  4. The goods delivered match those ordered.

  5. Purchases are recorded accurately.

  6. Payments are valid and paid for in a reasonable timescale.

Purchases cycle Purchases cycle 2
NotesQuizCBEMock