Explain what what four steps to be taken in a purchase /account payble process to insure there is proper intretal control.

Define Debit

Accounting information systems have five generic elements . Which of the following pairs includes examples of two different elements within the context of the acquisition /payment process ? Select one : a. All of these b. Journal entry that debits inventory and credits cash O c. Separation of duties and a blind copy of the receiving report O d. Purchase requisition and schedule of accounts payable

Distinguish between substantive tests of transactions and tests ofdetails of balances. Give one example of each for the acquisition and payment cycle.