Which of the Following Steps Should Be Performed by the Accounting

question 47

Multiple Choice

Which of the following steps should be performed by the accounting department prior to the approval of a disbursement?

• A)The invoice should be compared with a copy of the purchase order and invoice.
• B)The mathematical accuracy of the invoice should be proved.
• C)The invoice should be compared with the disbursing report.
• D)The check should be processed and signed by the purchasing department supervisor.

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Definitions:

Nonrival in Consumption

A characteristic of some goods or services where one person's consumption does not reduce availability for others.

Marginal Cost

The additional cost incurred by producing one more unit of a product or service, a key concept used in decision-making and pricing strategies.

Public Good

A good that is non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from its use and one person's use does not reduce availability to others.

Grocery Store

A retail store that sells food and other household goods.