GFEBS Spending Chain - Purchase Order Questions and Answers | Latest Update | 2024/2025 | Already Passed

GFEBS Spending Chain - Purchase Order Questions and Answers | Latest Update | 2024/2025 | Already Passed What is the purpose of a purchase order in the spending chain? The purpose of a purchase order is to formally request goods or services from a supplier and to outline the terms of the purchase. How does a purchase order affect the financial management process? A purchase order helps manage expenses by documenting and controlling commitments and expenditures. What information is typically included in a purchase order? A purchase order typically includes the description of items or services, quantities, prices, delivery dates, and terms and conditions. Why is it important to review a purchase order before approval? Reviewing a purchase order ensures that all details are accurate, and that it complies with procurement policies and budgetary constraints. 2 How does a purchase order contribute to budget control? A purchase order contributes to budget control by documenting anticipated expenditures and preventing overspending. What is the role of a purchase order in the receiving process? A purchase order serves as a reference for verifying the receipt of goods or services against what was ordered. What should be done if there is a discrepancy between the purchase order and the received goods? Discrepancies should be reported to the supplier and resolved through adjustments or corrective actions based on the purchase order. How does the purchase order process support financial accountability? The purchase order process supports financial accountability by providing a clear record of procurement activities and expenditures. What steps are involved in creating a purchase order? 3 Steps include defining the need, selecting a supplier, specifying order details, and obtaining necessary approvals before issuance. How does a purchase order help in vendor