Reference no: EM132689443
Question 1: In the Purchasing Cycle, what is the first step of this cycle?
Option 1: Vendors Invoice
Option 2: Purchase Requisition
Option 3: Purchase Order
Option 4: Purchases Journal
Question 2: In the Cash Disbursement Cycle, what is a type of disbursement?
Option 1: Accounts Receivable
Option 2: Assignment of Credit
Option 3: Deposits
Option 4: Payments on Accounts Payable
Question 3: Prepaids, accruals, and depreciation are adjustments:
Option 1: To be completed always at the end of the year
Option 2: To prepare for major purchases
Option 3: To the accrual method of accounting
Option 4: To verify internal controls and fraud detection