Homework Answers
The correct answer is the (c) Purchase order. Once the requisition request are approved the purchasing department sends the purchase order to the vendor/supplier.
remittance advice is sent by the buyer to supplier to inform that their invoice has been paid.
bill of adding is issued by the carrier to inform that the cargo has been received for shipment
vendor invoice the list of amounts owed to a supplier by the recipient.
return request is sent by the buyer to the supplier for requesting to return the goods
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What document is prepared to request goods or services from a vendor? Select one: a. Remittance...
1. What document does a customer receive when goods are returned? a. purchase order d. receiving...
1. What document does a customer receive when goods are returned? a. purchase order d. receiving report b. credit memo e. bill of lading C. debit memo 2. In order to maintain controls over cash receipts, cash is typically deposited while a bank reconciliation is performed a. daily, weekly b. daily, monthly c. weekly, monthly d. monthly, daily e. weekly, weekly 3. In the cash disbursements cycle, the vendor invoice is marked paid when a check is issued in order...
34 What is remittance advice for? A To indicate lemow pald B. Ta identity good received...
34 What is remittance advice for? A To indicate lemow pald B. Ta identity good received c. To vice remittances received D. for notification of goods dise d What is the purpose of purchase inwolce? A. To claim back the VAT To identify the pods bought c. To record how much is cwed to the creditor D. To record how much is owed to the debtor (A) ab and conly C band only D) a and only wly follow In...
Before a shipping notice is prepared during the revenue cycle, shipping department personnel should match the...
Before a shipping notice is prepared during the revenue cycle, shipping department personnel should match the inventory received from the warehouse to the A picking tickets. B sales order and bill of lading. C picking ticket and sales order. D sales order. Usually the supplier will give the buyer permission to correct the invoice for any discrepancies in quantity. In the case of damaged or poor-quality goods, a document called a(n) ________ is prepared after the supplier agrees to take...
Matching: Presented below is a list of terms relating to accountin definitions of those terms. formation...
Matching: Presented below is a list of terms relating to accountin definitions of those terms. formation systems, followed by equired: Match the letter next to each definition with the appropriate tem used only once. ppropriate term. Each answer will b 1. Purchase requisition 2. Procurement 3. Approved vendor list 4. Blind count 5. Purchase order 6. Attribute rating 7. Request for quotation 8. Receiving report 9. Invoice verification 10. Voucher package A. Counters in receiving do not have access to...
The procurement process for Omni Wholesale Company includes a series of activities that transforms a materials requisition into a vendor check. The process begins with a request for materials. The req...
The procurement process for Omni Wholesale Company includes a
series of activities that transforms a materials requisition into a
vendor check. The process begins with a request for materials. The
requesting department prepares and sends a materials request form
to the Purchasing Department. The Purchasing Department then places
a request for a quote to vendors. Vendors prepare bids in response
to the request for a quote. A vendor is selected based on the
lowest bid. A purchase order to the...
Medina Co. is a seller of electronic equipment used by other companies in their business such...
Medina Co. is a seller of electronic equipment used by other companies in their business such as modified iPads to process customer payments, record and perform services, etc. Customers prepare a Purchase order (1 Copy received) and send it to the Sales Department of the Company. Once the Customer Purchase Order is received the Sales team manually prepared a "Sales Order" (5 copies). One copy of the Sales Order is given to the customer, one copy is sent to the...
Ashton Fleming has decided to document and analyze the accounts payable process at S&S so the...
Ashton Fleming has decided to document and analyze the accounts payable process at S&S so the transition to a computerized system will be easier. He also hopes to improve any weaknesses he discovers in the system. In the following narrative, Ashton explains what happens at S&S: Before S&S pays a vendor invoice, the invoice must be matched against the purchase order used to request the goods and the receiving report that the receiving department prepares. Because all three of these...
Page 9 of 17 Watch the terms presented below with their definitions by writing the corresponding...
Page 9 of 17 Watch the terms presented below with their definitions by writing the corresponding letter in the space provided in the right column. (1 point each) Maximum possible account balance for a customer I credit limit vocument used to authorize reducing the balance in a customer account Method of maintaining customer accounts that generates payments for each individual sales transaction System that contains customer-related data organized in a manner to facilitate customer service, sales, and retention Document used...
3.6. Ashton Fleming has decided to document and analyze the accounts payable process at S&S so...
3.6. Ashton Fleming has decided to document and analyze the accounts payable process at S&S so the transition to a computerized system will be easier. He also hopes to improve any weaknesses he discovers in the system. In the following narrative, Ashton explains what happens at S&S: Before S&S pays a vendor invoice, the invoice must be matched against the pur- chase order used to request the goods and the receiving report that the receiving department prepares. Because all three...
6. In SAP, what document triggers a credit to revenue? a. Billing document b. Post goods...
6. In SAP, what document triggers a credit to revenue? a. Billing document b. Post goods issue c. Incoming invoice d. Goods receipt
1. What document does a customer receive when goods are returned? a. purchase order d. receiving report b. credit memo e. bill of lading C. debit memo 2. In order to maintain controls over cash receipts, cash is typically deposited while a bank reconciliation is performed a. daily, weekly b. daily, monthly c. weekly, monthly d. monthly, daily e. weekly, weekly 3. In the cash disbursements cycle, the vendor invoice is marked paid when a check is issued in order...
34 What is remittance advice for? A To indicate lemow pald B. Ta identity good received c. To vice remittances received D. for notification of goods dise d What is the purpose of purchase inwolce? A. To claim back the VAT To identify the pods bought c. To record how much is cwed to the creditor D. To record how much is owed to the debtor (A) ab and conly C band only D) a and only wly follow In...
Matching: Presented below is a list of terms relating to accountin definitions of those terms. formation systems, followed by equired: Match the letter next to each definition with the appropriate tem used only once. ppropriate term. Each answer will b 1. Purchase requisition 2. Procurement 3. Approved vendor list 4. Blind count 5. Purchase order 6. Attribute rating 7. Request for quotation 8. Receiving report 9. Invoice verification 10. Voucher package A. Counters in receiving do not have access to...
The procurement process for Omni Wholesale Company includes a
series of activities that transforms a materials requisition into a
vendor check. The process begins with a request for materials. The
requesting department prepares and sends a materials request form
to the Purchasing Department. The Purchasing Department then places
a request for a quote to vendors. Vendors prepare bids in response
to the request for a quote. A vendor is selected based on the
lowest bid. A purchase order to the...
Page 9 of 17 Watch the terms presented below with their definitions by writing the corresponding letter in the space provided in the right column. (1 point each) Maximum possible account balance for a customer I credit limit vocument used to authorize reducing the balance in a customer account Method of maintaining customer accounts that generates payments for each individual sales transaction System that contains customer-related data organized in a manner to facilitate customer service, sales, and retention Document used...
3.6. Ashton Fleming has decided to document and analyze the accounts payable process at S&S so the transition to a computerized system will be easier. He also hopes to improve any weaknesses he discovers in the system. In the following narrative, Ashton explains what happens at S&S: Before S&S pays a vendor invoice, the invoice must be matched against the pur- chase order used to request the goods and the receiving report that the receiving department prepares. Because all three...
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