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Linda and her mom want to start a company selling homemade brownies to large supermarket chains. To get started, they have created an office in the apartment above their garage. Their first goal is to network their two computers together as well as establish an Internet connection. Finally, they need to purchase a new printer for creating invoices and marketing materials.
-Linda wants to research other companies selling similar products. She searches the Internet by first launching her ____.
Purchasing Cycle
The sequence of steps or processes involved in the acquisition of goods or services, from the identification of a need, through the procurement process, to the payment of the invoice.
Purchase Order
A formal document issued by a buyer to a seller, detailing the products or services ordered and the agreed-upon prices.
Inventory Account
An account in the general ledger that tracks the value of a company's products that are intended for sale.
Time Sheet
A document or tool used to track the number of hours worked by an employee during a specific period.
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