ACCA BT · Chapter 5 · Question 7 of 10
The accounting function interacts with other parts of the organisation. Which of the following is most likely to require information from the purchasing department?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) The accounts payable section, to match supplier invoices with orders
Explanation
Accounts payable needs purchase orders (and goods received notes) from purchasing to perform a matching check before supplier invoices are approved for payment. Receivables chasing relies on sales data, payroll relies on HR and timesheet data, and arranging an overdraft relies on cash flow forecasts.
More The role of accounting and the finance function MCQs
- Q9Which of the following users of financial statements is most interested in assessing whether a company can repay loans when they fall due?
- Q10Which of the following best describes the role of the finance function in an organisation that uses 'business partnering'?
- Q1Which of the following is the main purpose of financial accounting?
- Q2Which of the following is a typical feature of management accounting information?
- Q3Which of the following activities is most likely to be carried out by an organisation's treasury function?