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2)
Purchase order:
a
formal,
multicopy
form
prepared
from
the
purchase
requisition that binds the acquiring firm.
3)
Receiving report: a document that records the receipts of goods.
4)
Supplier’s (vendor’s) invoice: a billing document from the supplier who
provides goods or services.
5)
Disbursement voucher:
a
document
within
a
voucher system that accumulates
suppliers’ invoices for payment.
6)
Disbursement check: the final document in the EC that provides payment to a
supplier for some goods or services.
7)
Debit
memorandum:
a
document
that
authorizes
a
purchase
return
or
allowance.
8)
New
supplier
(vendor) form:
a
form used
in
the selection of
new suppliers,
showing such data as prices, types-of-goods or services provided, experience,
credit standing, and references.
9)
Request
for
proposal
(or
quotation):
a
form used
in
a
competitive
bidding
procedure, showing the goods or services needed and the comparative prices,
terms, and so on.
2.4 Internal Control (IC)
Control systems are
crucial
and
required by
businesses so they are
not exposed to
excessive risk or behaviors that might harm their reputation for honesty and
integrity. Whether a business is big (i.e. public companies) or small (i.e. sole trader),
Internal Control (IC) has a great importance in managing the resources and making
sure
operations
are
efficient
and
effective.
It
could
also
maximize
the
business
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