Solved

Presented Below Is a List of Terms Relating to Accounting

Question 102

Short Answer

Presented below is a list of terms relating to accounting information systems,followed by definitions of those terms.
Required: Match the letter next to each definition with the appropriate term.Each answer will be used only once.
________ 1.Purchase requisition
________ 2.Procurement
________ 3.Approved vendor list
________ 4.Blind count
________ 5.Purchase order
________ 6.Attribute rating
________ 7.Request for quotation
________ 8.Receiving report
________ 9.Invoice verification
________ 10.Voucher package
A.Counters in receiving do not have access to quantities shown on purchase orders.
B.Document used to request a purchase
C.A summary of vendors approved for use by the purchasing function
D.A collection of documents that are reviewed and approved to authorize a transaction
E.An approach to vendor selection which identifies,lists,and evaluates several different aspects concerning a vendor
F.Prepared to document the receipt of deliveries from vendors
G.The document issued to a vendor to initiate a purchase
H.The business process of selecting a source,ordering,and acquiring goods or services
I.The review of purchasing documentation prior to authorizing payment to vendors
J.Documents used to request competitive bids from vendors

Correct Answer:

verifed

Verified

1.B,2.H,3....

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents