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Presented Below Is a List of Terms Relating to Accounting

Question 62

Matching

Presented below is a list of terms relating to accounting information systems, followed by definitions of those terms.
Match the appropriate term with each definition. Each answer will be used only once.

Premises:

Responses:

Purchase requisition

Counters in receiving do not have access to quantities shown on purchase orders.

Procurement

Document used to request a purchase

Approved vendor list

A summary of vendors approved for use by the purchasing function

Blind count

A collection of documents that are reviewed and approved to authorize a transaction

Purchase order

An approach to vendor selection which identifies, lists, and evaluates several different aspects concerning a vendor

Attribute rating

Prepared to document the receipt of deliveries from vendors

Request for quotation

The document issued to a vendor to initiate a purchase

Receiving report

The business process of selecting a source, ordering, and acquiring goods or services

Invoice verification

The review of purchasing documentation prior to authorizing payment to vendors

Voucher package

Documents used to request competitive bids from vendors

Premises:

Purchase requisition

Procurement

Approved vendor list

Blind count

Purchase order

Attribute rating

Request for quotation

Receiving report

Invoice verification

Voucher package

Responses:

Counters in receiving do not have access to quantities shown on purchase orders.

Document used to request a purchase

A summary of vendors approved for use by the purchasing function

A collection of documents that are reviewed and approved to authorize a transaction

An approach to vendor selection which identifies, lists, and evaluates several different aspects concerning a vendor

Prepared to document the receipt of deliveries from vendors

The document issued to a vendor to initiate a purchase

The business process of selecting a source, ordering, and acquiring goods or services

The review of purchasing documentation prior to authorizing payment to vendors

Documents used to request competitive bids from vendors

Correct Answer:

Premises:

Responses:

Purchase requisition

Procurement

Approved vendor list

Blind count

Purchase order

Attribute rating

Request for quotation

Receiving report

Invoice verification

Voucher package