Which of the Following Correctly Lists the Correct Chronological Order

question 9

Multiple Choice

Which of the following correctly lists the correct chronological order of data flow in the fixed asset acquisitions process?

• A)Prepare requisition, approve purchase, receive goods, prepare purchase order
• B)Prepare purchase order, prepare requisition, receive goods, approve purchase
• C)Prepare purchase order, prepare requisition, approve purchase, receive goods
• D)Prepare requisition, approve purchase, prepare purchase order, receive goods

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Definitions:

Events

Occurrences or incidents that have significance for the operations, financial performance, or cash flows of an entity.

Common Stock

Equity ownership in a corporation, representing a claim on its dividends and assets.

Equity

The stake or ownership interest shareholders have in a company, represented by their shares of stock.

Chart Of Accounts

A systematic list of account titles and numbers used by a company to organize its financial transactions and prepare financial statements.