Which of the following does not need to be undertaken during the accounts payable phase?
A)The making of payments by authorised employees only.
B)The making of both accurate and timely payments.
C)Maximisation of any settlement terms.
D)Procuring the right goods for the right amount and at the right time.

Question

Quizplus · Accepted Answer

Procuring the right goods for the right amount and at the right time is not a part of the accounts payable phase. It is a part of the procurement process, which takes place before the accounts payable phase. The accounts payable phase is concerned with processing invoices, verifying payments, and making timely and accurate payments to suppliers. The aim of this phase is to ensure that the company pays its suppliers in a timely and effective manner while maintaining control over its cash flows. Maximising settlement terms, ensuring payments are made by authorised employees only, and making accurate and timely payments are all important aspects of the accounts payable phase.

Which of the Following Does Not Need to Be Undertaken