Describe the flow of data in the purchasing process that is initiated when the purchasing organization issues a check to a vendor in payment of an invoice for merchandise purchased.

Q: sources of input data may include all of the following business documents except : a- sales invoice…

A: Sources of input data is the the invoice or any other form of data from which data of a transaction…

Q: Normally revenue is recognized when:

A: Answer

Q: Which of the following transaction will be correct in regards to Source document of a Business? O a.…

A: Source documents are sort of documents that are part of accounting and are created when any monetary…

Q: Which of the following statements concerning internal control procedures for merchandise sales is…

A: Internal control procedures for the sale of merchandise is important and it must include the…

Q: In the revenue cycle (for sales on credit), a customer places an order for a certain product. Which…

A: Every time an order is received by an organisation, there is whole set of process that needs to be…

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

A: Option b is the answer

Q: The auditor is verifying whether all goods received by the company have been recorded appropriately.…

A: Auditor is one who audits the financial statement of company so as to provide fair view on the…

Q: Journal entries commonly processed as part of the purchases and cash disbursements can include:   A…

A: Purchases of the business includes goods and services purchased for the business. It can be on cash…

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: Describe the nature of the following documents and records andexplain their use in the sales and…

A: Bill of lading: Bill of lading refers to the written contract between the carrier and the seller for…

Q: A characteristic that all entries recorded in a cash receipts journal have in common is Select one:…

A: Correct option is C i.e.  a debit to the cash account

Q: The functions of and documents generated by which of the below departments determine when a…

A: Lets understand the basics. In organization, there are various department which are inter connected…

Q: It is used to show who is responsible for paying for shipping and when the title of the goods passes…

A: Payment term used to show who is responsible for paying for shipping and when the title of the goods…

Q: Prepare in good form level zero data flow diagram that articulates with links to context diagram in…

A:

Q: From the following list, identify those that are likely to serve as source documents.  Trial…

A: A source document refers to the original document that includes all the information of the business…

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: XYZ pharmaceutical company has the following situation involving the processing of purchases…

A: Context diagram: - The Context diagram shows the system under consideration as a single high-level…

Q: The entry to record the return of merchandise from a customer would include a  debit to Sales…

A: Sale return means when goods sold to customer returned back because of any reson. When we sold goods…

Q: Sales are normally recorded on the date of thea. Customer purchase order.b. Bill of lading.c. Sales…

A:

Q: t happens after the shipping department verifies that the quantities and descriptions of goods…

A: The sale order may be defined as the order which is generated by the seller of the goods to the…

Q: When granting a sales allowance, is there a return of merchandise inventory from the customer?…

A: Sales allowance is an allowance where reduction in reduction in selling price is granted to customer…

Q: Describe and use the sales journal. What steps are followed in posting from the sales journal to the…

A: Sales Journal: A journal is a book of original entry where all journal entries are recorded on the…

Q: Which of following functions should be segregated?a. opening the mail and recording cash receipts in…

A: Internal control is an important part of every organization. It helps in maintaining the efficiency…

Q: Vendors send invoices to the AP department where they are reviewed and approved for payment. Once…

A:

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: An automobile parts retailer purchases merchandise inventory for cash. When using a manual…

A: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a…

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: procedure will complete the purchase procedure in a company?

A: Option a is wrong because approving suppliers invoice is usually done at the beginning stage of…

Q: The entry to record the return of merchandise from a costumer would include a  credit to sales…

A: Given: To determine the entry to record the return of merchandise from a costumer that would include…

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

A:

Q: Where do you find inventory, sales, and cost of sales accounts on the financial statements?

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: The purchases and disbursements cycle usually begins when Group of answer choices A user department…

A: A disbursement seems to be the transfer of funds from one account to another, whether for a purchase…

Q: Read and analyze each of the transactions and explain whether they are considered improper…

A: Since there are multi sub-parts, we will solve first three for you. To get the remaining questions…

Q: Why should the function of requisitioning the purchase of goods be segregated from the function of…

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

Q: In accounting for consignment sales, sales revenue and the related cost of goods sold should be…

A: Introduction:- Consignment arise when goods are sent by their owner to an agent who undertakes to…

Q: sources of input data may include all of the following business documents except : a- sales invoice…

A: Source document refers to the document of original record, that is recorded when it is collected for…

Q: What accounts are used to recognize a retailer’s purchase from a manufacturer on credit?A. accounts…

A: Purchase of goods on credit means inventory has been purchased but payment has not been made yet.…

Q: Journalizing Sales Transactions

A: Journal entries is given bellow,

Q: Each of the below describes a procedure consistent with a strong system of internal control except……

A: Following procedure consistent with a strong system of internal control: 1. The accounts payable…

Q: Which of the following document will be given by the supplier at the time of receipt of cash for the…

A: Receipts is issued when some party is paying cash and other is receiving cash . The party receiving…

Q: A company indicates the condition of goods obtained onwhich of the following documents?a. Purchase…

A: Answer:   Option c.

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

A: The Answer

Q: Match each document in a voucher system with its description. Document 1. Purchase requisition 2.…

A: Since there are multi sub-parts, we will solve first three for you. To get the remaining sub-parts…

Q: What steps are followed in posting from the sales journal to the accounts receivable ledger?

A: Sales Journal A journal is a book of original entry where all journal entries are recorded on the…