Indicate whether each statement below is (i) always true, (ii) sometimes true, or (iii) never true. For any statements that are (ii) sometimes true, explain when the statement is true.

a. A bill of lading is required in the acquisition/payment process.

b. A data flow diagram of the acquisition/payment process has six numbered circles.

c. A vendor invoice triggers a cash disbursement event in a well-organized acquisition/payment process.

d. Companies without a conflict-of-interest policy have weak internal control over the acquisition/ payment process.

e. Daily bank reconciliations eliminate the need for other forms of internal control over cash.

f. Most of the documents in the acquisition/payment process are paper-based, rather than electronic.

g. Purchase orders are binding contracts between a customer and a vendor.

h. The passage of time triggers events in the acquisition/payment process.

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Acquisition payment process It is the process which is considered as the flip side of the sale collection process It focuses on the various activities ... View the full answer