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Questions and Answers

What is a key benefit of an integrated payables system?

  • C. Elimination of the need for physical documents.
  • D. Automated posting of payments to individual ledger accounts.
  • A. Increased efficiency in payment processing. (correct)
  • B. Access to supplier outstanding balance reports at any time.

Which of the following is a feature of an integrated payables system?

  • B. Payment postings to the trade payables ledger are in real-time. (correct)
  • A. Supplier outstanding balance report is accessible at a specific month-end date.
  • C. Payments made are manually posted to individual ledger accounts.
  • D. Physical documents for payment and purchases must be created.

Which statement is true about payments made using an integrated payables system?

  • D. Payments require the creation of physical documents.
  • C. Payments are automatically posted to individual ledger accounts. (correct)
  • A. Payments are manually posted to individual ledger accounts.
  • B. Payments can only be made at a specific month-end date.

Which of the following is a feature of an integrated payables system?

<p>Payment postings to the trade payables ledger are in real-time. (C)</p> Signup and view all the answers

Which of the following documents are businesses legally required to retain?

<p>Employee emails (A)</p> Signup and view all the answers

Which statement is true about payment postings in an integrated payables system?

<p>Payment postings are done in real-time. (D)</p> Signup and view all the answers

What is a key benefit of an integrated payables system?

<p>Real-time payment postings to the trade payables ledger. (A)</p> Signup and view all the answers

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