Fill in the blanks: 
i. Sending a cheque for the stationery bought will fall in the ----------step of P2P process.
ii. -------- is an average time taken for a transaction to be completed.
iii. P2P cycle consists of two parts, ----------------- and ---------------------
iv. Vendor maintenance consists of ----------, ---------- and -----------.
v. Non-PO invoices are ---------- to process than PO invoices.

Consequences of poor quality control 

Controls in Vendor set up process

Write full form of the following: 
i. COPC

ii. OCR

iii. TDS

iv. ACH

v. SLA

True or False: 
i. The invoice processing team cannot trace the GRN mentioned on the invoice.
ii. Vendor bank details are available in Vendor Master.
iii. While indexing, speed and accuracy both are important.
iv. Cash in Transit is an asset account.
v. No. of transactions requiring rework is a metric for accuracy

Explain all the Risks associated with the P2P cycle? How these risks are mitigated?

Explain how T&E is important to business. Discuss the policies and controls in T&E.