Question no : 406 MM Invoice Basic Concepts

TERP10 Quiz Unit 03 Procurement Cycle

Which of the following are possible account postings in a normal Invoice Verification process against a Purchase Order for Stocks Scenario ? 

A)    Debit Stocks, Credit Vendor. 

B)    Debit Vendor, Credit Stocks. 

C)    Debit Vendor, Credit GR/IR Clearing. 

D)    Debit GR/IR Clearing, Credit Vendor.  

E)    Debit Stocks and GR/IR Clearing, Credit Vendor. 

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