Which document establishes an initial record of the receipt of inventory?
A) receiving report
B) vendor's invoice
C) purchase order
D) petty cash voucher

Question

Quizplus · Accepted Answer

A receiving report is a document that establishes an initial record of the receipt of inventory. It provides details such as the date the goods were received, the quantity received, their condition, and any discrepancies. A vendor's invoice and purchase order may also be used in the inventory process, but they do not directly establish a record of receipt. Petty cash vouchers are used for small cash transactions and are not related to inventory management.

Which Document Establishes an Initial Record of the Receipt of Inventory