appropriate item or occurt 11 Terminology Please match each

appropriate item or occurt 11. Terminology: Please match each item on the left with the most I. Terminology. P right. I. Authorize a purchase 2. Bank reconciliation 3. Purchase order 4. Purchase requisition 5. Quantity discounts 6. Receiving report 7. Reorder point 8. Source documents, journal a. A way to monitor inventory needs b. Audit trail components c. Internal control to manage the risk of embezzlement d. One reason for consolidating purchase requisitions e. Possible internal control for purchasing from inappropriate vendors f. Prepared by purchasing department g.Promotes separation of duties h. Requests customer payment i. Several can be combined on one purchase order j. Step in the acquisition/payment process entries, ledger postings 9. Strategic alliance 10. Vendor invoice 12. Multiple choice questions.

Solution

1 Authorize a purchase g. Promotes separation of duties 2 Bank reconciliation c. Internal control to manage the risk of embezzlement 3 Purchase order f. Prepared by purchasing department 4 Purchase requisition i. Several can be combined on one purchase order 5 Quantity discounts d. One reason for consolidating purchase requisitions 6 Receiving report j. Step in the acqusition/payment process 7 Reorder point a. A way to monitor inventory needs 8 Source documents, journal entries, ledger postings b. Audit trail components 9 Strategic alliance e. Possible internal control for purchasing from inappropriate vendors 10 Vendor invoice h. Requests customer payment