Exam 13: Accounts Payablecash Disbursements Apcd Process

The flowchart below is the accounts payable/cash disbursements process presented in Chapter 13, but with certain items omitted.In the flowchart, each omission is indicated by a capital letter (A through I).Jumbled lists of the omitted items are as follows: Required: Complete the flowchart TB Figure 13.11 by placing one of the numbers, 1 through 9 from the above lists, to match the letters showing the missing items.

The purchase order triggers the make payment process.

Within the make payment process, the three subprocesses are "Prepare proposed payments", "Select and record payments," and ___________________________________.

The _________________________ is an interacting structure of people, equipment, methods, and controls that is designed to accomplish the handling of repetitive work routines of the AP department and the cashier, support their decision needs, and assist in the preparation of internal and external reports

The cashier is responsible for processing vendor invoices, preparing payment vouchers, and recording purchase and disbursement transactions.

In the ER diagram of the AP/CD process, VALID_INVOICES are received from the ____________________.

The vendor invoice master data is a repository of all unpaid vendor invoices.

To initiate an adjustment for returned goods or for a price allowance in the case of otherwise nonconforming goods, someone usually prepares a _________________________ and sends it to the vendor.

The AP process that uses vendor invoices for inputs updates the ______________________________ master data.

Which disbursement system most easily facilitates paying a number of invoices with a single check?

Which of the following is designed to reflect the formal approval of the voucher for payment?

The notification of an obligation to pay a vendor for merchandise that was ordered and received is known as a purchase order.

Which of the following activities would not occur when an inventory manager decides to return merchandise to a vendor?

The VP of finance usually has the ____________________ and the ____________________ directly reporting to him (her).

Who usually authorizes a payment?

When it is time to make a payment, an approved ____________________ is sent to the cashier.

The control plan ___________________________________ includes an aging of open vouchers / accounts payable records that is produced and reviewed on a regular basis in order to ensure that there is an adequate cash reserve to make required payments

The notification of an obligation to pay a vendor for merchandise that was ordered and received is known as a(n) ______________________________.

The AP/CD process is an interacting structure of people, equipment, activities, and controls that is designed to accomplish the handling of repetitive work routines of the AP department and the cashier, support their decision needs, and assist in the preparation of internal and external reports

Which of the following documents would be matched with the vendor invoice to ensure that the purchase was authorized (i.e., to ensure input validity)?