Are you familiar with the expenditure cycle? Would you like to try this quiz? The expenditure cycle is the set of activities that pertain to the procurement of and payment for goods and services. Activities include determining what needs to be purchased, the receipt of goods and payments to suppliers, and a set of decisions and actions. Test your knowledge of the expenditure cycle.
Receiving Report
Purchase Requisition
Purchase Order
Supplier Invoice
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Absolutely nothing
Orders are made
Shipment are blind counted, inspected and recorded
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Purchase Requisition
Purchase Order
Sales Order
Receiving Report
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Supplier Invoice
Purchase Order
Receiving Report
Purchase Requisition
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A document that identifies the requisitioner; specifies the delivery location and date needed
A document that formally requests a supplier to sell and deliver specified products at designated prices.
A document that indicates items have been formally received.
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Identifies the requisitioner; specifies the delivery location and date needed; identifies the item numbers, descriptions, quantity, and price of each item requested; and may suggest a supplier.
Document form that formally requests a supplier to sell and deliver specified products at designated prices.
Document that indicates items have been formally received.
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Indicate items have been formally received.
Records the adjustments being requested when there is a case of damaged or poor quality goods.
Write an order to a bank to pay the amount specified from funds on deposit
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True
False
I have no idea
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2
3
4
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