Accounting information systems have five generic elements. Which one applies to each item listed below within the context of the acquisition / payment process?
A. Adequate documentation of the process
b. Check, from the viewpoint of the buyer
c. Inventory status report
d. Purchase order, from the viewpoint of the purchasing department
e. Purchase requisition, from the viewpoint of the purchasing department
f. Purchases / inventory junction file
g. Recording journal entries to purchase inventory
h. Separation of duties
i. Steps in the acquisition / payment process
j. Vendor master file

Question

Quizplus · Accepted Answer

The Answer of Accounting information systems have five generic elements. Which one applies to each item listed below within the context of the acquisition / payment process?
A. Adequate documentation of the process
b. Check, from the viewpoint of the buyer
c. Inventory status report
d. Purchase order, from the viewpoint of the purchasing department
e. Purchase requisition, from the viewpoint of the purchasing department
f. Purchases / inventory junction file
g. Recording journal entries to purchase inventory
h. Separation of duties
i. Steps in the acquisition / payment process
j. Vendor master file

Accounting Information Systems Have Five Generic Elements