Which of the following best defines the Accounting Data Standards: Procure to Pay Subledger?
A) focuses on sales orders, accounts receivable, shipments, invoices, cash receipts and adjustments to accounts.
B) identifies data needed for purchase orders, goods received, invoices, payments, and adjustments to accounts.
C) adds the chart of accounts, source listings, trial balance, and GL (journal entry) detail.
D) defines product master data, location data, inventory on hand data, and inventory movement.

Question

Quizplus · Accepted Answer

The Accounting Data Standards: Procure to Pay Subledger focuses on the data needed for purchase orders, goods received, invoices, payments, and adjustments to accounts. Therefore, option B is the correct choice. Option A refers to the Order to Cash subledger, option C refers to the General Ledger, and option D refers to the Inventory subledger.

Which of the Following Best Defines the Accounting Data Standards