If Accounts Payable Receives an Invoice Directly from the Supplier,it

question 48

True/False

If accounts payable receives an invoice directly from the supplier,it needs to be reconciled with the purchase order and receiving report.

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Definitions:

Buyer Payment

The act of providing money or consideration by a buyer to a seller in exchange for goods, services, or property.

Depositary Bank

A financial institution that holds assets or securities in custody for its clients, facilitating trading and safekeeping of these assets.

Payor Bank

The bank on which a check is drawn, responsible for paying the check when it is presented for payment.

Intermediary Banks

Banks that act as mediators in financial transactions between counterparties, especially in international banking when a direct transaction is not possible.