Once the company receives newly purchased inventory,it prepares a(n)________ to list the goods received.
A)invoice
B)purchase approval form
C)receiving report
D)EFT transfer

Question

Quizplus · Accepted Answer

A receiving report is a document used by a company to record the receipt of goods and to verify the accuracy of the shipment received against what was ordered. It lists the details of the products received, including quantity, description, and price, and is usually prepared by the receiving department or staff. The invoice is typically generated by the supplier or vendor to bill the company for the goods purchased, while the purchase approval form is used to authorize the purchase of inventory in the first place. EFT transfer is a method of electronic payment and does not pertain to the listing of goods received.

Once the Company Receives Newly Purchased Inventory,it Prepares A(n)________ to List