Bundle: Accounting Information Systems, Loose-Leaf Version, 11th + MindTap Accounting, 1 term (6 months) Printed Access Card
Bundle: Accounting Information Systems, Loose-Leaf Version, 11th + MindTap Accounting, 1 term (6 months) Printed Access Card
11th Edition
ISBN: 9781337587297
Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher: Cengage Learning
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Chapter 12, Problem 1RQ
Summary Introduction

To define: The term “Purchasing process”.

Introduction: Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.

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Define purchasing process:

Interacting structure of activities, controls, equipment, and people is said to be purchasing process. Purchasing process helps the firm to determine the amount or type of services or goods that must be ordered. It assists in managing the incoming purchases and it helps to manage the work habits of the purchasing agents.

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