Which of the following is an agent in a purchases and payments structure model? Question 6Answer a. Cash disbursement b. Inventory c. Employee labour d. Supplier e. Receipt of goods
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Which of the following is an agent in a purchases and payments structure model?
Question 6Answer
Cash disbursement
Inventory
Employee labour
Supplier
Receipt of goods
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- Which of the following accounts are used when recording a purchase? A. cash, merchandise inventory B. accounts payable, merchandise inventory C. A or B D. cash, accounts payableWhat document signals that a company should record thepurchase of goods on account?a. Purchase requisitionb. Purchase orderc. Receiving reportd. Supplier invoicewhich of the following account will be least likely involved in the purhasing sub-process of the purchasing and disbursement cycle? a. inventory b. prepaid expenses c. accounts payable d. cash in bank
- Which of the following is an example of a contra revenue account?A. salesB. merchandise inventoryC. sales discountsD. accounts payableWhich of the following account will be least likely involved in the purchasing sub-process of the purchasing and disbursement cycle? Group of answer choices a.Inventory b.Prepaid expenses c.Accounts payable d.Cash in bankWhich of the following account will be least likely involved in the purchasing sub-process of the purchasing and disbursement cycle? a. Inventory b. Prepaid expenses c. Accounts payable d. Cash in bank
- Which of the following is NOT a financial transaction? a. purchase of products b. cash receipts c. update valid vendor file d. sale of inventoryMULTIPLE CHOICE 1. The entries in a purchases journal are posted to which of the following subsidiary ledger? A. Accounts Receivable B. Sales C. Purchases D. Accounts payable 2. The accounts payable ledger has posting from which of the following sets of journal? A. Purchases, cash payments and general B. Purchases, cash receipts and general C. Purchases and sales D. Cash payments and salesThe arrangements between buyer and seller as to when payments for merchandise are to be made are called? O A. Credit terms O B. Net cash C. Cash on demand O D. Gross cash
- Which of the following account will be least likely involved in the purchasing sub-process of the purchasing and disbursement cycle? Inventory Prepaid expenses Accounts payable Cash in bankvWhat is receipt and payment accountThe return of goods by a customer ( Sales Return ) should be credited in the ledger account of ? Select one: a. Sales account O b. Accounts receivable account O c. Purchase Return account O d. Sales Return account
