_____ Business Processes Include Activities Such as Making Payments, Processing

question 48

Short Answer

_____ business processes include activities such as making payments, processing payments received from customers, planning capital expenditures, and budgeting and planning to ensure that sufficient funds will be available to meet the organization's obligations as they come due.

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Definitions:

Accounts

Recordings within financial accounting that track specific types of transactions, such as assets, liabilities, equity, expenses, and income.

Journal

A comprehensive record of all financial transactions of a business, listed in chronological order.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns to ensure a company's bookkeeping system is mathematically correct.

Transactions

Financial activities that involve the exchange of assets, services, or liabilities between two parties.