Which one of the following departments does not have a copy of the purchase order?a. the purchasing departmentb. the receiving departmentc. accounts payabled. general ledger

Q: Which files are often found in a sales order module as opposed to an account receivable (customer)…

A: The Answer

Q: Which one of the following documents is not needed to process a payment to a vendor?A. vendor…

A: Purchases of material and inventory is very important for the business. Payment for purchases can be…

Q: Can you explain how the internal control of Documentation Procedure is violated in this question?…

A: The controls that are implemented to ensure the accountability and the integrity of the financial…

Q: A. What document is used to create the Purchase Order in the Expenditure Cycle and wheredoes it come…

A: Answer a: The purchase requisition document is used to create the Purchase Order. It comes from the…

Q: Which function should the billing department NOT perform? a. record the sales in the sales journal…

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: Which files do you usually find in a sales order module versus an account receivable (customer…

A: The sales order module contains an open sales order which is an internal document issued by seller…

Q: 1. SEGREGATION OF FUNCTIONSWhich, if any, of the following situations representsimproper segregation…

A: Segregation Function: Segregation of function refers to an important physical control. This…

Q: Identify which department has stewardship over the following journals,ledgers,and files. a.customer…

A: The answer is as fallows

Q: Which document helps to ensure that the receiving clerks actually count the number of goods…

A: Option b is the answer

Q: Below are several of the ASB management assertions. A. Occurrence B. Completeness C. Rights and…

A: The question is of Auditing and is related to the match management assertion that best appliesby…

Q: For each of the following processes, state whether OLTP or OLAP is appropriate and why.a. An order…

A: Meaning OLTP & OLAP OLAP means Online Analytical Processsing and OLTP means Online Transaction…

Q: Entries in the purchases journal are posted to the a. general ledger only. b. accounts payable…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: All of the following functions are normally found within an organization's sales/collection except:…

A: An entity involved in sale of merchandise has to keep a track of multiple functions such as receipt…

Q: Indicate which department—accounts payable, cash disbursements, data processing, purchasing,…

A:

Q: Which document authorizes the purchase of the inventory from an approved vendor? the petty cash…

A: A company purchases inventory works on it and sells them as finished product. So purchase plays an…

Q: Who is responsible for releasing an order? Describe what happens to the inventory records andto PAC…

A: The person responsible for releasing an order is the material planner.

Q: What are the columns that are typically used in the purchases journal?

A: A Purchase Journal records all purchases made on credit during a period. In other words, this is the…

Q: A company is trying to set up proper internal controls for their accounts payable/inventory…

A:

Q: In a manual accounting system, what advantage does the journal voucher system have over the…

A: Journal  Voucher Journal voucher is a special source of document which has been replaced for general…

Q: Which of the following is a control objective over sales? O a. None of the options O b. Compare…

A: The question is multiple choice question regarding control objective over sales.

Q: Why is a “blind” purchase order used as a receiving report document?

A: Blind Purchase Order: Blind purchase order contains all the information related to the purchase of…

Q: In the sales/OE system, when a customer's order is entered into the system, and before accepting the…

A: Every entity before accepting the order from the customer needs to check the master data. It…

Q: Which statement about the Expenditure Cycle is correct? The blind copy of the purchase order goes…

A: Step 1 The expenditure cycle is the flow of activities related to the acquisition of and payment for…

Q: Which of the following expenditure cycle tasksshould not be separated?a. Purchasing inventory items…

A: Human intervention is required for certain tasks.

Q: Multiple-Choice Questions 3. Which function should the billing department NOT perform? a. record…

A: Billing department collects all the bill of the company and responsible for the profitability of the…

Q: what is procedure to posting account receivable ledger and inventory system . Explain with entry

A: Accounts receivable ledger shows the balances of the debtors to whom the stocks were Sold on credit.…

Q: A. Occurrence B. Completeness C. Rights and obligations D. Allocation or valuation E. Classification…

A: Solution:- Identify each of the following control activities and identify the management assertion…

Q: When the store manager receives a requisition note, he issues three copies of purchase order. Two…

A: Internal control: Internal control is a procedure used by a company's board of directors,…

Q: What general ledger journal entries does the purchases system trigger? From which departments do…

A: Purchasing System: The identification and procurement of the inventory needs for the organization is…

Q: The individual amounts in the “Accounts Payable" column of the purchases journal are posted to the…

A: Answer: Option C Accounts Payable Subsidiary ledger is Correct.

Q: 4. Indicate which department -accounts payable, cash disbursements, data processing, purchasing,…

A: Purchase requisition is prepared and sent to the prepare purchase order function to initiate the…

Q: How does the procedure for determining inventory requirements differ between a basic…

A: Batch processing system: A technique that is used to collect the data and program together in a…

Q: Identify which department has stewardship over the following journals, ledgers, and files. a.…

A:

Q: Upon reciept of requisition, the stores manager initiates a three part purchase order. To copies go…

A: Given: Which of the given statements properly describe the over purchasing internal cost. The…

Q: Which onscreen form is usually used to record a sales transaction that the customer will pay later?…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Why does billing receive a copy of the sales order when the order is approved but does not bill…

A:

Q: For effective internal control, the accounts payable department generally should(1) stamp,…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Which of the following items is considered an original source document? Select one: a. accounts…

A: Source document In general source document which are used for the business transaction of the entity…

Q: Which files do you usually find in a sales order module versus an accounts receivable (customer)…

A: Sale is the outflow of the commodities or the inventory held with the business entity to generate…

Q: what steps are followed in posting from the purchases journal to the accounts payable ledger?

A: Purchase journal indicates the account corresponding to the orders or purchase initiated or made on…

Q: 18-Which of the following is an example of Source document? a. Sales Ledger b. Invoice c. Assets…

A: Some common examples of source documents include sales receipts, checks, purchase orders, invoices,…

Q: True or False: The posting of purchase transactions to the general ledger is done in the same manner…

A: Purchase transactions are the transactions relating to the procurement of goods from the party…

Q: Describe and put the sales notebook to use. What procedures are involved in submitting sales journal…

A: The Answer

Q: which of the following actions update/ record is: a master file, transactions file, special journal,…

A: Transaction- A business transaction, also known as a financial transaction, is one that can be…

Q: When aninventory itemfalls to the recorder point, a purchase requisition is automatically generated…

A: Develop system flow chart of expenditure cycle: The existing system performs the functions in…

Q: State the purpose of footing the total column in the client’saccounts receivable trial balance,…

A: A necessary audit procedure is to test the information on the client's trial balance for detail…