One of the Newest Technologies Related to Payables Is One

question 45

Multiple Choice

One of the newest technologies related to payables is one where invoices are exchanged and payments are made via the internet.The name given to this process is:

• A)Random Array of Invoice and Disbursements (RAID)
• B)Electronic Invoice Payment Procedures (EIPP)
• C)Electronic Invoice Presentment and Payment (EIPP)
• D)Routing Application Invoice Delivery (RAID)

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Definitions:

Salaries Expense

The total compensation paid to employees, including wages, salaries, bonuses, and deducted taxes, for their work for a company during a specific period.

Operating Expense

Costs associated with the day-to-day operations of a business, such as rent, utilities, and payroll, excluding cost of goods sold.

Purchases Discounts

An allowance given by the seller to the buyer for early payment or for buying in large quantities.