Which of the following sequence in the expenditure cycle is correct?
A)collect requests for goods - create purchase requisition - choose the supplier - create the purchase order
B)collect requests for goods - choose the supplier - create purchase requisition - create the purchase order
C)create purchase requisition - collect requests for goods - choose the supplier - create the purchase order
D)create the purchase order - collect requests for goods - choose the supplier - create purchase requisition

Question

Which of the following sequence in the expenditure cycle is correct?
A)collect requests for goods -> create purchase requisition -> choose the supplier -> create the purchase order
B)collect requests for goods -> choose the supplier -> create purchase requisition -> create the purchase order
C)create purchase requisition -> collect requests for goods -> choose the supplier -> create the purchase order
D)create the purchase order -> collect requests for goods -> choose the supplier -> create purchase requisition

Quizplus · Accepted Answer

The correct sequence in the expenditure cycle starts with collecting requests for goods, which helps in understanding what needs to be purchased. This is followed by creating a purchase requisition, which is a formal request to buy the goods. The next step is choosing the supplier from whom to purchase the goods. Finally, a purchase order is created, which is the official order sent to the supplier to purchase the goods. This sequence ensures that the organization's needs are accurately identified and fulfilled in an orderly and efficient manner.

Which of the Following Sequence in the Expenditure Cycle Is