Before goods are shipped on account, a properly authorized person mustSelect one:a.approve creditb.approve the journal entryc.prepare the sales invoiced.verify that the unit price is accurate

In the revenue and receipts cycle, a new customer wishes to purchase inventory on credit, at your shop. Select the first step that you will insist should be followed by your staff. a.Request a valid purchase order from the customer before processing the order.b.Create a correct purchase order, signed by the customer.c.Request that a credit application form be completed by the customer.d.Set up an accounts receivable account for the customer in the accounts receivable ledger.

ear PradipYou are right. The 'Approved to Buy' field is not functional. None of our customers seem to have any controls in place on purchase prices or negotiated prices.We will need to add some functionality to support you. Where are you expecting this check to work? In Purchase Order creation or in Material Receipt or in both?With regards,Sarosh

he journal entry to record the purchase on account of $950 of merchandise with freight of $45 prepaid by their supplier and added to the invoice is:

The billing department is not responsible forSelect one:a.updating the inventory subsidiary recordsb.recording the sale in the sales journalc.notifying accounts receivable of the saled.sending the invoice to the customer

Select the correct alternative to complete the sentence pertaining to the revenue and receipts cycle. An Internal Sales Order is authorised by signature by the credit controller before being sent to the warehouse. The objective of this control is to ensure that ______.a.the sale is made to a customer who can pay their accountb.goods are indeed in stock to be despatchedc.the recording of incorrect or incomplete order details is preventedd.the sales order is acted upon timeously