Question

1)

Which of the following general ledger accounts would likely not be impacted in a purchases and payments process?

Group of answer choices

Accounts Receivable.

Inventory.

Purchase Discounts.

Cash.

2)

Which of the following is the most likely order of a basic purchases activity model?

Group of answer choices

Analyze Inventory→Place Purchase Order→Send Payment.

Request prices and availability→Receive Items→Record Accounts Payable.

Request prices and availability→Place Purchase Order→Receive Items→Send Payment.

Create Purchase Order→Create Journal Entry→Receive Items→Send Payment.

Answer 1

1

Accounts Receivable would likely not be impacted in a purchases and payments process.

Accounts Receivable arises from Sales activity not Purchases activity.

Option A Accounts Receivable is correct

2

The most likely order of a basic purchases activity model is:

Request prices and availability→Place Purchase Order→Receive Items→Send Payment.

Option C is correct