The accounts payable department usually has responsibility for verifying the propriety of acquisitions by comparing the details on the:
A) purchase requisition, purchase order and receiving report.
B) vendor's invoice and the purchase requisition.
C) purchase order, receiving report and vendor's invoice.
D) vendor's invoice and the receiving report.

Question

Quizplus · Accepted Answer

The purchase order details what items or services were ordered and the agreed-upon price. The receiving report documents the physical receipt of the goods or services. The vendor's invoice outlines the amount due to the supplier. Comparing all three documents (purchase order, receiving report, and vendor's invoice) ensures that the goods or services were received as specified in the purchase order and that the vendor's invoice is accurate. Therefore, the accounts payable department can verify the propriety of acquisitions by comparing the details on the purchase order, receiving report, and vendor's invoice.

The Accounts Payable Department Usually Has Responsibility for Verifying the Propriety