Which of the Following Is Not Normally Considered a Step

question 56

Multiple Choice

Which of the following is not normally considered a step in the credit sales functions?

• A) accepting customer orders
• B) approving credit
• C) shipping the sales orders
• D) acquiring goods to fill the order
• E) billing customers

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Definitions:

Charges

Fees or prices asked for goods or services.

Payments

The act of providing money or its equivalent in exchange for goods, services, or to settle debts.

Balance Due

The amount of money owed on an invoice or bill that remains unpaid and is required to settle the account.

Double-Entry Bookkeeping System

An accounting method where each transaction is recorded in two accounts, showing both the source and the destination of funds to ensure accuracy.