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What is the purpose of reviewing and reconciling financial records in the purchasing process?
  • a)
    To ensure security of assets.
  • b)
    To identify potential theft of goods.
  • c)
    To verify the accuracy of recorded transactions.
  • d)
    To monitor employee training.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the purpose of reviewing and reconciling financial records in ...
Reviewing and reconciling financial records in the purchasing process is essential to confirm the accuracy of recorded transactions. This step helps identify any discrepancies, improper charges, or errors in the financial documentation, ensuring that the records reflect the actual activities and expenses related to purchasing operations.
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What is the purpose of reviewing and reconciling financial records in the purchasing process?a)To ensure security of assets.b)To identify potential theft of goods.c)To verify the accuracy of recorded transactions.d)To monitor employee training.Correct answer is option 'C'. Can you explain this answer?
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