1) Which of the following general ledger accounts would likely not be impacted in a purchases...
1)
Which of the following general ledger accounts would likely not be impacted in a purchases and payments process?
Group of answer choices
Accounts Receivable.
Inventory.
Purchase Discounts.
Cash.
2)
Which of the following is the most likely order of a basic purchases activity model?
Group of answer choices
Analyze Inventory→Place Purchase Order→Send Payment.
Request prices and availability→Receive Items→Record Accounts Payable.
Request prices and availability→Place Purchase Order→Receive Items→Send Payment.
Create Purchase Order→Create Journal Entry→Receive Items→Send Payment.
Homework Answers
| 1 |
| Accounts Receivable would likely not be impacted in a purchases and payments process. |
| Accounts Receivable arises from Sales activity not Purchases activity. |
| Option A Accounts Receivable is correct |
| 2 |
| The most likely order of a basic purchases activity model is: |
| Request prices and availability→Place Purchase Order→Receive Items→Send Payment. |
| Option C is correct |
Add Answer to:
1)
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