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    Business
  3. Study Set
    Auditing and Assurance Services Study Set 1
  4. Exam
    Exam 18: Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of Transactions, and Accounts Payable
  5. Question
    What Typically Initiates the Acquisitions and Payment Cycle
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What Typically Initiates the Acquisitions and Payment Cycle

Question 4

Question 4

Multiple Choice

What typically initiates the acquisitions and payment cycle?


A) Issuance of a purchase requisition or request for purchase of goods/services
B) Issuance of payment to vendor
C) Approval of a new vendor
D) Purchase requisition

Correct Answer:

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