What typically initiates the acquisitions and payment cycle?
A)Issuance of a purchase requisition or request for purchase of goods/services
B)Issuance of payment to vendor
C)Approval of a new vendor
D)Purchase requisition

Question

Quizplus · Accepted Answer

The acquisition and payment cycle is initiated by the issuance of a purchase requisition or request for purchase of goods/services. This triggers the entire cycle that includes purchasing, receiving, accounts payable, and payment processes. Other options such as payment to vendor or approval of a new vendor come later in the cycle.

What Typically Initiates the Acquisitions and Payment Cycle