When Calculating Accounts Payable Turnover,if There Is Not a Material

question 38

Multiple Choice

When calculating accounts payable turnover,if there is not a material difference between the company's beginning inventory and ending inventory,then the accounts payable turnover will be ________ whether purchases or cost of goods sold are used.

• A)similar
• B)unavailable
• C)drastically different
• D)noncomparable

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Definitions:

Petty Cash

A small amount of cash kept on hand for making immediate payments for miscellaneous small expenses in an office or business.

Purchase Requisition

A document used in the procurement process to request authorization for a purchase order.

Department Manager

An individual responsible for overseeing the operations, personnel, and budget of a specific department within a company.

Petty Cash Account

A small amount of cash kept on hand for making immediate payments for miscellaneous small expenses.