The proper recognition of accounts payable liabilities are crucial to ensure fair statement of the ending accounts payable balance. What documents are required to adequately support accounts payable?
A) receiving reports and bill of lading documents that indicate dates shipped
B) bill of lading documents matched to the internal purchase requisition
C) purchase requisition (authorized) matched with the purchase order to the supplier
D) supplier invoices matched to receiving reports and authorized purchase documents

Question

Quizplus · Accepted Answer

To adequately support accounts payable, it is important to match supplier invoices to receiving reports and authorized purchase documents. This ensures that the invoice is valid and accurately reflects the items received and the amounts owed. The other options listed may be useful documents for tracking the shipment and receipt of goods, but they do not provide direct evidence of the amounts owed to suppliers.

The Proper Recognition of Accounts Payable Liabilities Are Crucial to Ensure