The Typical Horizontal Flows of Information in a Accounts Payable/cash

question 97

Multiple Choice

The typical horizontal flows of information in a accounts payable/cash disbursements process might include all of the following except:

• A)an invoice is received from a vendor
• B)the paid voucher is sent to the accounts payable department
• C)an approved disbursement voucher is sent to the cashier
• D)a copy of a receiving report is sent to the cashier

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Definitions:

Planning Budget

A financial plan for a future period, outlining an organization's revenue and expenditures.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels.

Revenue Variances

The difference between actual revenue and budgeted or expected revenue, analyzed to understand and manage financial performance.

Spending Variances

Spending variances are the differences between the actual amount spent and the budgeted or planned amount, often analyzed to control and manage expenses better.