The financial value of a purchase is determined by reviewing the a. packing slip b. purchase requisition c. receiving report d supplier's invoice 6. When purchasing inventory, which document usually triggers the recording of a liability a. purchase requisition b. purchase order c. receiving report d. supplier's invoice 7. Because of time delays between receiving inventory and making the journal entry a. liabilities are usually understated b. liabilities are usually overstated C. liabilities are usually correctly stated d. none of the above 8. Which of the following is the most appropriate order for the transaction cycles a. Revenue, Conversion and Expenditure b. Conversion, Revenue and Expenditure C. Expenditure, Conversion and Revenue d. Conversion, Expenditure and Revenue