Posted by: Pdfprep
Post Date: January 21, 2021
In a perpetual inventory system, what is the effect of posting an A/P Invoice that is copied from a Goods Receipt PO (GRPO)? Note: There are 2 correct answers to this question.
A . Journal entry reduces cash account
B . Stock value increases.
C . Allocation account from GRPO clears
D . Vendor’s balance increases
Answer: C,D
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