Final answer:
During the invoice verification step of the procurement process, revenue accounts, capital accounts, and owner's equity accounts are not impacted. This step is mainly concerned with expense and liability accounts such as Accounts Payable and Inventory or Expense accounts.
Step-by-step explanation:
The question revolves around the invoice verification step in the procurement process and which General Ledger (GL) accounts are not affected during this stage. In the context of accounting within a business setting, invoice verification is a crucial step in ensuring that the records of purchased goods or services match the vendor's invoice and the company's purchase order and receiving report.
Revenue accounts, capital accounts, and owner's equity accounts are generally not impacted by invoice verification as this process is typically concerned with verifying the details and amounts within expense and liability accounts. For example, upon verifying an invoice, the Accounts Payable (a current liability account) is increased, and the corresponding Inventory or Expense account is also adjusted.
However, the revenue accounts, which reflect the income generated by the company, capital accounts that represent the investments in the company, and owner's equity accounts which show the owner's stake in the business are not directly affected by this step in the procurement process.