Exams

In accounting, the Three-way Match refers to a procedure used when processing an invoice received from a vendor or supplier. The three-way match is an important step in safeguarding an organization's assets. The purpose of the three-way match is to avoid paying incorrect and perhaps fraudulent invoices.

Here Three-way refers to the three documents involved :

* Vendor's invoice which was received and will become part of an organization's accounts        payable if approved.

* Purchase order that was prepared by the organization.

* Receiving report that was prepared by the organization.

And Match refers to the comparison of the quantities, price per unit, terms, etc. appearing on the vendor's invoice to the information on the purchase order and to the quantities actually received.

After the vendor's invoice has been validated by the three-way match, it can be further processed for payment.

Telecom Secretary J S Deepak was on Wednesday named India’s next Ambassador to the World Trade Organisation (WTO) from June this year. A 1982 batch IAS officer from Uttar Pradesh, Deepak, who is at present attending the World Mobile Congress at Barcelona, has been shifted with “immediate effect” from the telecom ministry and has been made Officer on Special Duty in the commerce department.

Let the weight of vessel be x
Weight of water = 24 – x
⇒ (24 – x)/4 + x = 9
⇒ 24 – x + 4x = 36
⇒ 3x = 12
⇒ x = 4 kg

The world's fastest elevator that can operate at a record speed of 1,260 meters per minute is set to be installed in a skyscraper complex in China. The elevator has various safety features including brake equipment that uses materials with high heat resistance. Apart from this, the elevator can absorb vibration during the high-speed operation to make the ride comfortable.

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