FINANCIAL+MANAG.ACCT.
FINANCIAL+MANAG.ACCT.
9th Edition
ISBN: 9781260728774
Author: Wild
Publisher: RENT MCG
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Chapter 6, Problem 17E
To determine

Concept Introduction:

Voucher System: A mechanism for approving the distribution of cash is known as a voucher system. The items to be paid for, the amount to be paid, and the account number to be charged are listed on a voucher.

To match: The document with the description.

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Match each document in a voucher system with its description. Document 1. Purchase requisition 2. Purchase order 3. Invoice 4. Receiving report 5. Invoice approval 6. Voucher Description A. An itemized statement of goods prepared by the vendor listing the customer’s name, items sold, sales prices, and terms of sale. B. An internal file used to store documents and information to control cash payments and to ensure that a transaction is properly authorized and recorded. C. A document used to place an order with a vendor that authorizes the vendor to ship ordered merchandise at the stated price and terms. D. A checklist of steps necessary for the approval of an invoice for recording and payment; also known as a check authorization. E. A document used by department managers to inform the purchasing department to place an order with a vendor. F. A document used to notify the appropriate persons that ordered goods have arrived, including a description of the quantities and condition of…
Describe the data flow in the buying process that begins when the purchasing organization sends a check to a vendor to settle an invoice for goods bought.
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 purchase.
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