The Classes of Transactions in the Acquisition and Payment Cycle

question 110

Multiple Choice

The classes of transactions in the acquisition and payment cycle include:

• A) acquisition of goods.
• B) acquisition of goods and services.
• C) acquisition of goods and services, cash payments, and purchase returns and discounts.
• D) acquisition of goods and services, and cash payments.

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Definitions:

Produced Tag

In industrial automation, a tag that is created and made available by one device for use by another, typically in a producer/consumer model.

Structure Type Tag

A label or identifier used in programming to define complex data types that consist of multiple elements or fields.

Data Structure

An organized method of storing and organizing data in a computer so that it can be accessed and modified efficiently.

User-Defined

Pertains to features, functions, or data specified or created by the user, as opposed to being predefined by software or hardware.