21) Which of the following business documents would not originate with the purchasing company?

A) Purchase requisition

B) Check for payment

C) Sales invoice

D) Receiving report


22) The company receiving a purchase order prepares a:

A) purchase requisition.

B) voucher.

C) bill of lading.

D) sales invoice.


23) On the balance sheet, Vouchers Payable would be:

A) a special liability account.

B) an asset account.

C) renamed as Accounts Payable.

D) shown as long-term liabilities.


24) After payment is made, a notation is made on the:

A) check register.

B) voucher register.

C) back of the voucher.

D) All of these answers are correct.

25) When using a voucher system, all of the following are true except that:

A) the purchase order must be completed and approved before the goods are purchased.

B) a receiving report is completed when goods are received and is checked against the purchase order.

C) someone in the receiving department verifies the numbers and checks the purchase order and purchase invoice for accuracy.

D) after all the steps are complete, payment is issued in the form of a check.


26) Before a voucher is approved for payment, all documents must be in agreement, except for the:

A) accounts receivable ledger.

B) invoice.

C) purchase order.

D) receiving report.


27) The book of original entry in a voucher system is the:

A) sales journal.

B) purchases journal.

C) voucher register.

D) check register.


28) Under a voucher system, every liability is recorded at the time:

A) of requisition.

B) of receipt.

C) of order placement.

D) the liability is incurred.

29) The voucher register would contain a column for all except:

A) check numbers.

B) Vouchers Payable credit.

C) Cash credit.

D) Purchases debit.


30) The check register would contain a column for all except:

A) the payee name.

B) a debit to Vouchers Payable.

C) a credit to Cash.

D) All of the above would be included in columns.




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