Authorization for Payment of an Accounts Payable Liability Is the Responsibility

question 19

Multiple Choice

Authorization for payment of an accounts payable liability is the responsibility of

• A)inventory control
• B)purchasing
• C)accounts payable
• D)cash disbursements

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Definitions:

Employee Compensation

All forms of financial returns and tangible benefits that employees receive as part of an employment relationship.

QWERTY Keyboard

The standard layout for English-language keyboards, named after the first six letters in the top letter row.

Industry Standard

Accepted norms and practices within a particular industry, often used as benchmarks for quality and performance.

Virtual Monopoly

A virtual monopoly occurs when a company has majority control over a market or industry, significantly influencing prices and competition, even if it's not a complete monopoly.