Accounts Payable (Word Scramble)

1. A buyer's payable is its vendor's ___________.

2. Under the ___________ method of accounting a purchase on account becomes a liability when the goods are received.

3. The three-way ___________ is often used when reviewing vendor invoices.

4. Vendor invoices for repairs and maintenance are likely debited to this type of account.

5. This type of order is one of the documents that is compared to a vendor invoice.

6. Many companies have a policy to pay only from vendor invoices and not from vendor ___________.

7. The type of general ledger account associated with an accrued expense.

8. 2/10, net 30 allows for an early payment ___________.

9. The ___________ of duties is one of the principles of internal control.

10. The IRS Form 1099-MISC is issued in January to this type of contractor who has provided services in the previous year.