Financial and Managerial Accounting (Looseleaf) (Custom Package)
Financial and Managerial Accounting (Looseleaf) (Custom Package)
6th Edition
ISBN: 9781259754883
Author: Wild
Publisher: MCG
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Chapter 6, Problem 13E
To determine

Purchase requisition:

Process of purchase or procurement of specified quantity of material for it availability at the time of requirement is known as purchase requisition.

Purchase order:

A document displays details of material to be purchased is called purchase order. Buyer makes this document and which permits purchase transaction. It is also known as PO.

Invoice:

Invoice is a document which shows details of goods and service provided to a party and thereby requests for payment to be made.

Receiving report:

Document presents information about the received goods such as quantity, weight, description, and seller’s details.

Invoice approval:

The procedure tells about the requirements before invoice amount being paid. In other words it is an approval process.

Voucher:

Voucher is a document which holds details of a particular transaction and with the help of which entry made in the books of accounts.

To identify: Match the document column with the given descriptions in column two.

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