Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

2. Transaction Analysis

Journal Entries: Debits and Credits

Financial Accounting

2. Transaction Analysis

Journal Entries: Debits and Credits

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which of the following documents is a form requesting the purchase of merchandise?

Purchase requisition

Receiving report

Voucher

Sales invoice

Previous problemNext problem

Verified step by step guidance

Understand the purpose of each document listed in the options. A purchase requisition is a document used internally within a company to request the purchase of goods or services. It is typically the first step in the procurement process.

A receiving report is a document prepared when goods are received, detailing the items received and their condition. It is used to verify that the goods match the purchase order.

A voucher is a document used to authorize payment for goods or services. It often includes details of the purchase and serves as evidence for the transaction.

A sales invoice is a document issued by a seller to a buyer, detailing the goods or services sold, the amount due, and payment terms. It is not used to request a purchase.

Based on the definitions, identify the document that specifically requests the purchase of merchandise. This document is the purchase requisition.