The Recording Process Occurs

question 73

Multiple Choice

The recording process occurs

• A) once a year.
• B) once a month.
• C) repeatedly during the accounting period.
• D) infrequently in a manual accounting system.

---

Definitions:

Sales Forecast

A sales forecast is the projection of the amount of revenue a company will generate through sales activities over a specific period.

Cash Receipts

Represents the money received by a business during a specific period, including revenues from sales, services, and loans.

Credit Sales

Credit Sales are transactions where the purchaser buys goods or services but the payment to the seller is delayed according to agreed terms, rather than paid in full at the time of sale.

Uncollectible

Refers to accounts receivable that a company deems unlikely to be collected and is therefore written off as a bad debt expense.