Once the company receives the 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 typically used by a company to list the goods received when new inventory is purchased. This report serves as a document of record for the company's inventory management and control system. An invoice is a document sent by the supplier to the purchaser requesting payment, a purchase approval form is used to initiate a purchase request, and an EFT transfer is an electronic funds transfer used to make a payment. None of these options are as directly related to the receipt of new inventory as a receiving report.

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