"It provides for ordering of goods, sorting of purchase expenses and payment to the creditors". Which subsystem of AIS is briefly highlighted in the above statement?
"It provides for ordering of goods, sorting of purchase expenses and payment to the creditors". Which subsystem of AIS is briefly highlighted in the above statement?
Solution
✅ Correct Option: 1
Placing orders with suppliers, classifying purchase-related expenses and settling amounts due to creditors are all functions of the purchase and accounts payable subsystem of an accounting information system. The inventory subsystem tracks stock movement and valuation, while the cash and bank subsystem records receipts and payments generally.
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