When establishing an internal control system to determine the appropriate time to pay a supplier for a purchase, which of the following processes/reports must be included in the system?
A)A performance report from the engineering department
B)An updated report from the expeditor's office
C)A comparison of the purchase order and the supplier's invoice
D)A three-way match of critical information on the purchase order, the packing slip, and the invoice

Question

Quizplus · Accepted Answer

A three-way match of the purchase order, packing slip, and invoice ensures that the goods received match what was ordered and billed, which is crucial for determining the appropriate time to pay a supplier.

When Establishing an Internal Control System to Determine the Appropriate