Please indicate the proper sequence of the acquisition cycle:
1. Approval of items for payment.
2. Authorized requisition for goods or services.
3. Cash disbursements.
4. Receipt of goods and services.
5. Authorized purchase of goods or services.
A) 2, 5, 4, 1, 3
B) 2, 4, 5, 1, 3
C) 2, 1, 4, 5, 3
D) 2, 5, 1, 4, 3

Question

Quizplus · Accepted Answer

The correct sequence is: Authorized requisition for goods or services (2), Authorized purchase of goods or services (5), Receipt of goods and services (4), Approval of items for payment (1), Cash disbursements (3).

Please Indicate the Proper Sequence of the Acquisition Cycle