Homework Answers
Answer- When the sales department needs merchandise, it sends the purchasing department a form called = a purchase requisition.
Explanation- 1)-After a supplier of merchandise is selected, the purchasing department issues a form called =a purchase order.
2)- The source document for recording a purchase of merchandise on credit is = a purchase invoice.
3)- The source document for recording a selling of merchandise on credit is = a sales invoice.
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Question 1 (1 point) Saved When the sales department needs merchandise, it sends the purchasing department...
Question 2 (1 point) After a vendor (supplier) of merchandise is selected, the purchasing department issues...
Question 2 (1 point) After a vendor (supplier) of merchandise is selected, the purchasing department issues a form called a purchase invoice O a purchase order a sales invoice a purchase requisition
Create a flowchart for the following Sales Support Department Narrative The Sales Support Clerk prepares the...
Create a flowchart for the following
Sales Support Department Narrative The Sales Support Clerk prepares the purchase requisition and sends one copy to Purchasing and files the other copy numerically. To confirm the order, Purchasing will send a copy of the purchase order at some point. This copy is filed alphabetically by vendor. After goods are received, the Sales Support Clerk verifies the merchandise and signs the two copies of the receiving report. One copy of the receiving report is...
create a flowchart for the following Purchasing Narrative After the Purchasing Clerk receives the purchase requisit...
create a flowchart for the following
Purchasing Narrative After the Purchasing Clerk receives the purchase requisition, Clerk will determine where to buy the product. If the item has been ordered previously, then the Clerk will select a vendor from the approved vendor list. If it has not been ordered previously, the Clerk will use a competitive bidding process to determine the vendor. Once the vendor is selected, a purchase order is prepared and sent to the vendor. Other copies are...
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Question 1 (1 point) Saved Under which accounting system is the cost of merchandise sold calculated only when a physical count is done? Periodic Perpetual
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Question 2 (1 point) After a vendor (supplier) of merchandise is selected, the purchasing department issues a form called a purchase invoice O a purchase order a sales invoice a purchase requisition
Create a flowchart for the following
Sales Support Department Narrative The Sales Support Clerk prepares the purchase requisition and sends one copy to Purchasing and files the other copy numerically. To confirm the order, Purchasing will send a copy of the purchase order at some point. This copy is filed alphabetically by vendor. After goods are received, the Sales Support Clerk verifies the merchandise and signs the two copies of the receiving report. One copy of the receiving report is...
create a flowchart for the following
Purchasing Narrative After the Purchasing Clerk receives the purchase requisition, Clerk will determine where to buy the product. If the item has been ordered previously, then the Clerk will select a vendor from the approved vendor list. If it has not been ordered previously, the Clerk will use a competitive bidding process to determine the vendor. Once the vendor is selected, a purchase order is prepared and sent to the vendor. Other copies are...
Question 1 (1 point) Saved Under which accounting system is the cost of merchandise sold calculated only when a physical count is done? Periodic Perpetual
Part #1: Elegance - Women and Men (LLC) Elegance Women and Men (LLC) is a rapidly growing luxury lifestyle brand led by a talented and ambitious management team. The company features distinctive designs, materials and craftsmanship with a jet-set aesthetic that combines stylish elegance and a sporty attitude.. The company aims to provide American top luxury clothing and accessories including handbags, small leather goods, eyewear, jewelry and watches and footwear in three segments-retail, wholesale and licensing. Elegance plans to go...
1. An effective cost control system should include: a. An established plan of objectives and goals to be achieved b. Regular reports showing the difference between goals and actual performance c. Specific assignment of duties and responsibilities d. All of these are correct 2. The personnel involved in the physical control of materials includes all the following except the: a. Purchasing agent b. Receiving clerk c. Cost accountant d. Production department supervisor 3. The form prepared by the purchasing agent...
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