What is the purpose of the supplier's invoice?
The supplier's invoice triggers the three-way match and the AP recognition process. During the course of the transaction, the AP department has received and temporarily filed copies of the PO and receiving report. The organization has received inventories from the vendor and has realized an obligation to pay for them. The firm has not, however, received the supplier's invoice which contains financial information needed to record the transaction. The firm will thus defer recording (recognizing) the liability until the invoice arrives.
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Which of the following payroll-related frauds may involve non-existent employees?
a. ghost employees b. falsified hours and salary c. commission schemes d. false workers' compensation claims
To effectively serve an angry customer, the service provider must move beyond the emotions to discover the reason for his or her anger.
Answer the following statement true (T) or false (F)
Which of the following describes a situation when skimming should be used?
A) when experience or scale effects lead to a favorable volume—cost relationship B) when there is a strong price—perceived quality relationship C) when a large segment of the customer base is price-sensitive D) when the company wants to build significant market share
Unit costs for each job are computed by dividing
A) estimated total costs by planned units to be produced. B) actual costs by actual units sold. C) cost of direct materials, direct labor, and overhead by number of units produced. D) estimated total costs by actual units sold.