Reading review questions.
a. What is the basic purpose of the acquisition/payment process?
b. What steps do companies commonly complete as part of the acquisition/payment process?
c. How are the generic elements of the AIS exemplified in the acquisition/payment process?
d. What risks do managers face as part of the acquisition/payment process? What internal controls help reduce exposure to those risks?
e. Prepare a response to the questions for this chapter’s “AIS in the Business World.”
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