The transaction flow in a typical purchasing process for a client purchasing goods includes _______.
A)approving purchases, shipping goods, and recording purchases and accounts payable
B)approving purchases, receiving goods, and recording purchases and accounts payable
C)approving purchases, receiving goods, and recording purchases and accounts receivable
D)approving sales, receiving goods, and recording purchases and accounts receivable

Question

Quizplus · Accepted Answer

The typical purchasing process for a client purchasing goods involves approving purchases, receiving goods, and recording purchases and accounts payable. This means that the client approves the purchase order, receives the ordered goods, and records the transaction as an account payable, which is the amount owed to the supplier for the goods received. Option A includes shipping goods, which is not part of the client's responsibility, as it is the supplier's responsibility. Option C includes recording accounts receivable, which is not relevant to the client as they are the buyer, not the seller. Option D includes approving sales, which is not part of the purchasing process as it is the seller's responsibility.

The Transaction Flow in a Typical Purchasing Process for a Client