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Questions and Answers
What is the result of posting a vendor’s invoice?
What is the result of posting a vendor’s invoice?
- Updating the inventory balance
- Updating the accounts receivable balance
- Updating the accounts payable balance (correct)
- Updating the retained earnings balance
What impact does posting a vendor’s invoice have on financial statements?
What impact does posting a vendor’s invoice have on financial statements?
- Decreases assets and decreases equity
- Decreases liabilities and increases equity
- Increases assets and increases equity
- Increases liabilities and decreases equity (correct)
How does posting a vendor’s invoice affect cash flow?
How does posting a vendor’s invoice affect cash flow?
- Decreases cash flow from financing activities
- Increases cash flow from investing activities
- No direct impact on cash flow (correct)
- Increases cash flow from operating activities
