GFEBS L454E Goods Receipt
Processing Questions and Answers |
Latest Update | 2024/2025 | Already
Passed
What is the purpose of goods receipt processing in a financial management system?
The purpose is to confirm the receipt of goods and services, ensuring they match the
purchase order an...
What is the purpose of goods receipt processing in a financial management system?
✔✔ The purpose is to confirm the receipt of goods and services, ensuring they match the
purchase order and meet quality standards.
What information is typically verified during goods receipt processing?
✔✔ Information such as the quantity of goods received, the quality of items, and the matching of
goods with the purchase order is verified.
How does the goods receipt process affect the financial records?
✔✔ It updates financial records by recording the receipt of inventory, which affects accounts
payable and inventory accounts.
What is the first step in the goods receipt processing workflow?
✔✔ The first step is to receive and inspect the goods or services as per the purchase order and
delivery documentation.
1
, How is the receipt of goods recorded in the financial system?
✔✔ The receipt is recorded by entering the details into the system, including the quantity, item
description, and delivery date.
What is the role of the purchase order in goods receipt processing?
✔✔ The purchase order serves as a reference document to verify that the goods received match
the order specifications.
What should be done if discrepancies are found between the goods received and the purchase
order?
✔✔ Discrepancies should be reported to the supplier and the purchasing department for
resolution and adjustment in the records.
Why is it important to match the goods receipt with the purchase order?
✔✔ Matching ensures accuracy in inventory management and financial accounting, preventing
errors and discrepancies.
How does the goods receipt process impact the accounts payable process?
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