Intermediaries Occur When a Customer Sells Directly to Another Customer

question 72

True/False

Intermediaries occur when a customer sells directly to another customer online, cutting out the intermediary.

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Definitions:

Voucher System

A control mechanism in accounting wherein vouchers are prepared as evidence of authorization before transactions are recorded.

Purchase Order

A form used in business to place an order for the buying of goods from a seller.

Receiving Report

A document prepared by the receiving department to evidence the receipt of material or supplies that had been ordered.

Voucher

A document that authorizes a payment and records details about the transaction but does not represent cash itself.