Hello sir...Hope you are doing well!
I have watched your lectures on Supplier Statement Reconciliation. But I am not getting my head around this specific question from Kaplan Revision Kit 2023-24
Qn 302
Which of the following would be identified by matching a supplier statement against the transactions within the month?
A. Incorrect calculations on invoices
B. Non delivery of goods charged
C. Incorrect trade discounts
D. Duplication of invoices
The answer provided is Option D (Duplication of invoices) ,but they have not given any explanation.
Could you kindly explain to me why this is the correct answer and why others are wrong.
Thank you in advance..
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Supplier Statement Reconciliation
2y ago#1This is a terribly poor question for Kaplan to include in their material
However, D is correct because it would imply that either the supplier or the company had included the invoice twice, which would be wrong.
A and C are not correct because even if the invoice amount was wrong, the both the supplier and the company would have entered the same amount in their records.
B is where the Kaplan answer is wrong. If the goods have not been delivered (but an invoice has been sent) then this would be identified by matching the statement against the transactions.
2y ago#2This is a terribly poor question for Kaplan to include in their material
However, D is correct because it would imply that either the supplier or the company had included the invoice twice, which would be wrong.
A and C are not correct because even if the invoice amount was wrong, the both the supplier and the company would have entered the same amount in their records.
B is where the Kaplan answer is wrong. If the goods have not been delivered (but an invoice has been sent) then this would be identified by matching the statement against the transactions.
Thanks a lot sir..!
Really appreciate your time and efforts. Hope to learn more from you..
2y ago#4You are very welcome :-)
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