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

question 23

Multiple Choice

The typical horizontal flows of information in an 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 returned 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:

Random Variable

A variable whose values depend on outcomes of a probabilistic phenomenon, often used in statistics and probability theory.

Future Price

The predicted price of a commodity, security, or currency in a futures contract for delivery and payment at a specified future date.

General Motors

A multinational corporation based in the United States that designs, manufactures, markets, and distributes vehicles and vehicle parts.

Moral Hazard

A situation where one party in an agreement can take risks because the other party bears the consequences of those risks.