Correct Answer: Reasonable amounts are fixed and it limits the amount the company will have to spend
Explanation:
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More Accounts Payable MCQ Questions
An Invoice statement is provided __________________
Accounts Payable is _________.
From the Accounts Payable point of view, what are the main problems that arise between Accounts Payable and Purchasing?
Where do you record the payment terms for the money that a client owes to a vendor?
When clients have customers who are also vendors, what is the best way to offset Accounts Payable against Accounts Receivable?
PO is the abbreviation for __________
True or False? The account payable for one company corresponds to another company's account receivable.
What is the definition of accounts payable?
What is the definition of a purchase order?
True or False? A vendor invoice is sent from a vendor to a company for some services or goods rendered.