The flowchart below illustrates two alternative inventory ordering methods. Answer part 1 to 3 based on this flowchartSome organizations prefer using alternative two. What are the advantages of using alternative two instead of the alternative one? Be specific. What is the difference between purchase requisition and purchase order? Under what circumstances can you envision management using alternative one rather than alternative two? Some accountants argue that the receiving department should be eliminated. Discuss the objective of eliminating the receiving function. What accounting/audit problems need to be resolved. Grab FileEdit CaptureWindow HelpA 94%Thu 3:46 pm!!合らwa Sis question answers - Saved to my MacHomeInsertDrawDesignLayoutReferencesMailingsReviewView ? Tell mee ShareO CommentsPurchasesDana Processing DeparmontReceivingAccounts PayablePurchaseBequinition FieBind CoyAat Pay CopyFle CopyPreparePurchaseOrdersBind CopyAcct Pay CpyOpen PurchaneOrdar FeVondor FilePurchaseOnterBind CopyAcc Pay CapYFile CopyReviewPurgheseOrderand15Bind CopyAcct Pay CopyFile CopyPurchooeOrderFleVendorrALTERNATIVE ONEPurchasesData Procossing DepartmentReceivingAccounts PayablePurchseTansactionListRequisition FilcPeparePurchsseAcct Py CopyBird CupyFevienOpen PunchnaeOrder FleVendor FleOrdersandFileBind CopyAcut Pay CoyPurchase CrderTanncionLiatTançactionLiVendorALTERNATIVE TWORequired:1. Some organizations prefer using alternative two. What are the advantages of usingalternative two instead of the alternative one? Be specific. [2 Marks]2. What is the difference between purchase requisition and purchase order? [2 Marks]3. Under what circumstances can you envision management using alternative one rather thanalternative two? [3 Marks)4.Some accountants argue that the receiving department should be eliminated. Discuss theobjective of eliminating the receiving function. What accounting/audit problems need to beresolved. [4 Marks]Answertep 1Page 3 of 164479 wordsEnglish (Australia)O Focus+120%D

The above-mentioned inventory ordering alternatives are used by organizations as per their order…

Answered: The flowchart below illustrates two…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The flowchart below illustrates two alternative inventory ordering methods. Answer part 1 to 3 based on this flowchart

Some organizations prefer using alternative two. What are the advantages of using alternative two instead of the alternative one? Be specific.
What is the difference between purchase requisition and purchase order?

Under what circumstances can you envision management using alternative one rather than alternative two?
Some accountants argue that the receiving department should be eliminated. Discuss the objective of eliminating the receiving function. What accounting/audit problems need to be resolved.

Grab File
Edit Capture
Window Help
A 94%
Thu 3:46 pm
!!
合ら
wa Sis question answers - Saved to my Mac
Home
Insert
Draw
Design
Layout
References
Mailings
Review
View ? Tell me
e Share
O Comments
Purchases
Dana Processing Deparmont
Receiving
Accounts Payable
Purchase
Bequinition Fie
Bind Coy
Aat Pay Copy
Fle Copy
Prepare
Purchase
Orders
Bind Copy
Acct Pay Cpy
Open Purchane
Ordar Fe
Vondor File
Purchase
Onter
Bind Copy
Acc Pay CapY
File Copy
Review
Purghese
Order
and
15
Bind Copy
Acct Pay Copy
File Copy
Purchooe
Order
Fle
Vendor
r
ALTERNATIVE ONE
Purchases
Data Procossing Department
Receiving
Accounts Payable
Purchse
Tansaction
List
Requisition Filc
Pepare
Purchsse
Acct Py Copy
Bird Cupy
Fevien
Open Punchnae
Order Fle
Vendor Fle
Orders
and
File
Bind Copy
Acut Pay Coy
Purchase Crder
Tanncion
Liat
Tançaction
Li
Vendor
ALTERNATIVE TWO
Required:
1. Some organizations prefer using alternative two. What are the advantages of using
alternative two instead of the alternative one? Be specific. [2 Marks]
2. What is the difference between purchase requisition and purchase order? [2 Marks]
3. Under what circumstances can you envision management using alternative one rather than
alternative two? [3 Marks)
4.
Some accountants argue that the receiving department should be eliminated. Discuss the
objective of eliminating the receiving function. What accounting/audit problems need to be
resolved. [4 Marks]
Answer
tep 1
Page 3 of 16
4479 words
English (Australia)
O Focus
+
120%
D

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