Financial And Service Forms Review

1. A requisition is use to pay ...

Individuals $499.99 or more

Businesses and companies (or individuals $500 or more)

Businesses and companies only

A requisition is a formal request for the purchase of goods or services. In this context, it is used to pay businesses and companies, or individuals who are owed $500 or more. This means that if the amount owed is less than $500, individuals will not be paid using a requisition. Therefore, the correct answer is businesses and companies (or individuals $500 or more).

Explanation

A requisition is a formal request for the purchase of goods or services. In this context, it is used to pay businesses and companies, or individuals who are owed $500 or more. This means that if the amount owed is less than $500, individuals will not be paid using a requisition. Therefore, the correct answer is businesses and companies (or individuals $500 or more).

2. In order to receive a reimbursement, you must receive written approval from Director Veronica Rodriguez, Associate Director Barbara Cosentino, or Coordinator Kristina Garcia PRIOR to purchasing items.

True

False

To receive a reimbursement, it is necessary to obtain written approval from either Director Veronica Rodriguez, Associate Director Barbara Cosentino, or Coordinator Kristina Garcia before making any purchases. This implies that without prior approval from any of these individuals, reimbursement will not be granted. Therefore, the statement is true.

Explanation

To receive a reimbursement, it is necessary to obtain written approval from either Director Veronica Rodriguez, Associate Director Barbara Cosentino, or Coordinator Kristina Garcia before making any purchases. This implies that without prior approval from any of these individuals, reimbursement will not be granted. Therefore, the statement is true.

3. Who must provide a valid signature on an invoice?

The performer/vendor

The student

No signature is required on an invoice

The performer/vendor must provide a valid signature on an invoice. This is because the performer/vendor is responsible for verifying the authenticity and accuracy of the invoice, ensuring that the goods or services provided have been accurately represented and that the payment is being made to the correct party. The signature serves as a form of confirmation and agreement between the performer/vendor and the recipient of the invoice.

Explanation

The performer/vendor must provide a valid signature on an invoice. This is because the performer/vendor is responsible for verifying the authenticity and accuracy of the invoice, ensuring that the goods or services provided have been accurately represented and that the payment is being made to the correct party. The signature serves as a form of confirmation and agreement between the performer/vendor and the recipient of the invoice.

4. A Direct Payment Voucher (DPV) is used to pay individuals ...

$1-499.99 (under $500)

$500-999.99 (under $1,000)

$1,000 and up

A DPV is only used to pay companies

A Direct Payment Voucher (DPV) is used to pay individuals for amounts ranging from $1 to $499.99 (under $500). It is not used for payments exceeding $500. The given answer implies that DPV is specifically designed for smaller payments to individuals, and not for larger amounts or payments to companies.

Explanation

A Direct Payment Voucher (DPV) is used to pay individuals for amounts ranging from $1 to $499.99 (under $500). It is not used for payments exceeding $500. The given answer implies that DPV is specifically designed for smaller payments to individuals, and not for larger amounts or payments to companies.