What Evidence Is Appropriate to Determine Whether Recorded Purchase Transactions

question 78

Multiple Choice

What evidence is appropriate to determine whether recorded purchase transactions are valid and the vendors charged the correct prices?

• A)Purchase requisitions and accounts payable entries
• B)Receiving reports and purchase orders
• C)Purchase requisitions and purchases orders
• D)Purchase orders and bid quotes

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Definitions:

Substantially Impaired

A situation where the value, function, or utility of something has been significantly reduced or damaged.

Conform to the Contract

The requirement for the goods, services, or conditions provided or received to meet the specifications, quality, and terms outlined in a contractual agreement.

Commercial Unit

A term used in sales law referring to a standard or unit of goods that is regarded as a single whole for purposes of sale and division.

Accept Goods

The act of receiving or taking delivery of goods in a manner that conforms with the terms of a contract.