Chapter 9 - Chapter 9 1. Each of the following is an...

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Chapter 9 1. Each of the following is an example of a mutual commitment event in the acquisition/payment cycle EXCEPT: A ) Cash disbursement B ) Purchase order C ) Rental agreement D ) Service agreement E ) All of the above are mutual commitment events in the acquisition/payment cycle 2. What is the primary document prepared by the enterprise in conjunction with the economic increment event in the acquisition/payment process? A ) Vendor invoice B ) Receiving report C ) Purchase order D) Debit memorandum E ) Disbursement voucher 3. Internal agents typically associated with economic increment events via participation relationships in the acquisition/payment process include: A) Salespeople B ) Receiving clerks C ) Credit card companies D) Suppliers E ) Accounts payable clerks
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4. For supply acquisitions the associated resource is usually ________, and for operating asset acquisitions the associated resource is usually ______. A)supply type, operating asset
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This note was uploaded on 12/17/2011 for the course ACCOUNTING 425 taught by Professor Stebbins during the Fall '11 term at Franklin.

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Chapter 9 - Chapter 9 1. Each of the following is an...

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