The computer-generated file which records acquisitions, disbursements and allowances for each vendor is the
A) accounts payable master file.
B) cash disbursements file.
C) acquisitions transaction file.
D) purchase approval file.

Question

Quizplus · Accepted Answer

The accounts payable master file contains information on all vendors that a company owes money to, including the amounts owed, payment terms, and other relevant data. This file is generated by the company's accounting system and is typically updated in real-time as new transactions occur. The other options are not as appropriate as they are either too specific (B and D) or too general (C) to describe this particular file.

The Computer-Generated File Which Records Acquisitions, Disbursements and Allowances for Each