Chapter 8 Process
Step 6 is GOODs Receipt. This is the first step with financial accounting postings. For purchasing a raw material which G/L postings are made?
Debit Raw Materials and Credit the GR?IR
Step is defined as which of the following?
Payment to Vendor
Step 1 is the trigger for the procurement process, What is this step called?
Purchase Requisition
The purpose of Step 4 is to create which of the following?
Purchase order
Step 7 in the procure-to-pay process is defined by which of the following?
Receive Vendor Invoice
Step 2 determines which of the following?
Source of Supply
Purchase Requisition
Step 1
Source of Supply
Step 2
Vendor Selection
Step 3
Purchase Order
Step 4
PO Monitoring
Step 5
Goods Receipt
Step 6
Invoice Receipt
Step 7
Payment to Vendor
Step 8
Step 3 determines which of the following?
Vendor Selection
The purpose of step 5 is for which of the following?
purchase order monitoring