Based on the expenditure/acquisition cycle answer the following: 1) Assume that a purchasing agent handles POs, communicates
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Based on the expenditure/acquisition cycle answer the following:
1) Assume that a purchasing agent handles POs, communicates with production managers and vendors, and updates vendor information. What duties related to the expenditure cycle would not be appropriate for the purchasing agent? Name at least 2 functions that are not related to creating journal entries.
2) What documents would you obtain to determine if there are unrecorded liabilities because the three-way match has not been performed? What is another way to determine whether unrecorded liabilities exist?
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