What are the steps taken in the cash disbursement system?
What will be an ideal response?
Accounts payable reviews the documents related to a liability: purchase requisition, purchase order, receiving report, and vendor invoice. If proper, cash disbursements is authorized to make payment.
Cash disbursements prepares the check, a separate person signs it, sends it to the vendor, and notifies accounts payable.
At the end of the period, cash disbursements and accounts payable send summary information to general ledger.
PTS: 1
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How is the Registry organized?
A. As a tree structure B. As a flat structure C. As a relational structure D. As a peer structure