You

will seldom find Suppliers accounts on the Cashbook Receipts, as we expect to

receive payments from Customers only and not Suppliers.

It

is important in a purchasing transaction that the employee obtaining quotations

from suppliers must be different from the employee receiving the goods ordered

and also different from another employee making payment to the supplier. This

is an example of:

Payroll related payments need to be recorded in

the AIS, which method can be used to achieve this?

The

payments cashbook journal is used to capture all payments to suppliers.

At

least two persons must be involved in reconciling an account in an Accounting

System:

Editing

a supplier’s terms on the system is an example of a business activity that will

modify nonfinancial data which has a direct influence on the processing of

financial transaction.

An organisation’s

daily business transactions are processed into information by means of

The

cost of a new Accounting Information System typically includes cost for

software and hardware.

There

is a limit to the number of accounts that are listed in an account chart.

No

physical movement of inventory items has taken place when a purchase order is created.