Which of the following statements is true regarding Invoice Reconciliation (IR)?

The statement that Invoice Reconciliation (IR) is a copy of the original invoice is true because IR serves to validate that the details on the invoice match the corresponding purchase order and received goods or services. The process of reconciliation involves reviewing the original invoice against related documents such as purchase orders, receipts, and contracts to ensure accuracy in billing. This verification is critical in maintaining financial integrity and ensuring that payments made are correct and justified based on the actual transaction.

While the other statements might present misconceptions about what invoice reconciliation entails, understanding IR as a vital tool for ensuring that invoices align with actual purchases helps clarify its role in procurement and financial processes.