At What Point in the Acquisition and Payment Cycle Do

question 142

Multiple Choice

At what point in the acquisition and payment cycle do most companies first recognize the acquisition and related liability on their records?

• A) when the purchase requisition is received by the accounting department
• B) when the purchase order is prepared
• C) when the company receives the invoice from the vendor
• D) when the company receives the goods or services from the vendor

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Definitions:

Genetic Factors

Those hereditary qualities and genes inherited from parents that influence physical and behavioural characteristics.

Depression

A mood disorder that causes a persistent feeling of sadness and loss of interest, affecting how one feels, thinks, and handles daily activities.

Internal

Pertaining to or situated within something; inner, especially referring to processes or phenomena occurring within an entity or organism.

Stable

Referring to a condition or situation that is not undergoing significant change or variation and is steady or unchanging over time.