QUESTION 4 Which of the following is NOT correct regarding a 10997 A. A vendor's Tax ID No. is required to complete the 1099. 3. The 1099 Forms are required to be sent to the SEC to maintain compliance as a registered public com C.Q80 can assist in tracking amounts and preparing 1099s for appropriate vendors. D. It is an IRS Form commonly prepared by a business every year. QUESTION 5 How does an account payable arise with a vendor? A When our business makes a cash purchase, it promises to pay the same amount again for future purchase B. When our customers purchase amounts from us, they promise to pay us in the future. C. When we return purchases to our vendor, they promise to pay us for the amounts returned. D. When our business purchases on credit, it promises to pay that amount in the future. QUESTION Which is NOT true regarding the Accounts Payable Aging Report? A It provides information to track amounts we owe our vendors. B. It summarizes accounts payable balances by age of the account C. It tracks how much we owe vendors and the amounts due including past due balances. D. It ensures a company is aware of the credit limit it has with each vendor. Chick Save and Subsit to save and submit. Click Save All Answers to save all answers