One Objective of Accounts Payable Is to Authorize Payment Only

question 15

Multiple Choice

One objective of accounts payable is to authorize payment only for goods or services actually ordered and received.The best way to process supplier invoices is to use

• A)electronic funds transfer for small,occasional purchases from suppliers.
• B)a nonvoucher system.
• C)EDI for all small,occasional purchases from suppliers.
• D)a disbursement voucher system.

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Definitions:

Visual Field

The total area in which objects can be seen in the periphery while the eyes are focused on a central point.

Corpus Callosum

A thick band of nerve fibers that divides the cerebral cortex lobes into left and right hemispheres, facilitating communication between them.

Pituitary Gland

A small, pea-sized gland located at the base of the brain, crucial for regulating vital body functions and general wellbeing through the secretion of hormones.

Master Gland

A term often used to describe the pituitary gland due to its critical role in regulating various functions in the body by releasing hormones.