Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
Who does what to make a purchase?
|
1) Inventory Control sends purchase requisition to Purchasing and Accounts Payable
|
|
|
What does Purchasing do after the receipt of the purchase requisition from Inventory Control?
|
2) Purchasing sends a purchasing order to an authorized Vendor, Receiving (without quantities), and Accounts Payable
|
|
|
What does Account Payable do after the receipt of the day's purchasing requisitions from Inventory Control?
|
3) Account Payable forwards the daily summary of purchase orders to GL for posting of the total to GL file
|
|
|
What does Receiving do after the receipt of the ordered goods from vendor?
|
4) Receiving counts the quantity of the received goods
5) forwards the received goods with a receiving report to Warehouse, the receiving report with the packing slip to Inventory Control, and the receiving report only to Purchasing and Accounts Payable |
|
|
What does Warehouse do after the receipt of the goods and the receiving report from Receiving?
|
6) Warehouse verifies the match of goods received with the receiving report
|
|
|
What does Inventory Control do after the receipt of the packing slip and the receiving report from Receiving?
|
7) Inventory Control matches the receiving report with packing slip and purchasing requisition, and updates inventory records
|
|
|
What does Purchasing do after the receipt of the receiving report from Receiving?
|
8) Purchasing matches the receiving report with purchase order and updates the purchase order file
|
|
|
What does Accounts Payable do after the receipt of the receiving report from Receiving?
|
9) Accounts Payable matches the receiving report with purchase order and purchase requisition and updates the AP file
|
|
|
How should be vendors be placed on the vendors listing?
|
additions to the vendor file should be authorized at an appropriate level and not by the buyers
|
|
|
Which control can help prevent overpaying a vendor?
|
Reviewing and canceling supporting documents when a check is issued.
|
