Quiz 6: Payables and Purchases: Merchandising Business

Business

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Orders for merchandise are prepared using the QuickBooks purchase order form. Explanation : In QuickBooks, merchandise order received must be checked against the purchase orders, and completed purchase orders must be closed.

If you change the reorder point for an item, it becomes effective immediately. Answer : (A) Immediately Explanation : In the QuickBooks, once a vendor has been recognized, the vendor's information and billing details gets saved. Any changes will take effect immediately and it will be reflected in any transaction recorded for the vendor.