Which of the following statements is false? The accounts payable master data sto

Question

Which of the following statements is false? The accounts payable master data store is a repository of all unpaid vendor invoices. Evaluated receipt settlement (ERS) is a process by which an organization pays for a purchase on the basis of the receipt of the goods. Purchase returns and allowances is an exception that usually occurs at the point of inspecting and counting the goods or when validating vendor invoices. The vendor sends a(n) vendor invoice to notify the purchaser of an obligation to pay for goods or services ordered by and shipped to the purchaser. When it is time to make a payment, an approved sales order is sent to the cashier.

Explanation / Answer

This statement is false.The vendor sends a(n) vendor invoice to notify the purchaser of an obligation to pay for goods or services ordered by and shipped to the purchaser.when it is time to make a payment ,an approved sales order is sent to the cashier.

As sales order is made at the first point not at the time of payment.

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