1a. Which of the following is not an activity in the purchases and payments process?

Multiple Choice: a. Request prices, b. Receive items, c. Pay for items, d. Bill customers

1b. Which activity results in an increase to accounts payable?

Multiple Choice: a. Place purchase order, b. Return rejected items, c. Request prices, d. Send payment, e. Receive items

1c. Which of the following is not an example of an application control?

Multiple Choice: a. Range checks ensure that purchases are limited to valid amounts, b. Employee making disbursements cannot modify purchase orders, c. System supplies supplier address for the payment, d. System creates audit trail documenting all changes

1d. Many companies record both purchase orders and purchases; when would such a company recognize in the financial statements the purchase?

Multiple Choice: a. When the purchase order is issued, b. When the supplier receives the purchase order, c. When the products are received from the supplier and accepted, d. When the products are sold