Steps in the Materials Management Process Include All of the Following

question 121

Multiple Choice

Steps in the materials management process include all of the following except

• A) creating the purchase order
• B) shipment
• C) receiving
• D) recording the vendor invoice

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Definitions:

Accrued Expenses

Expenses that have occurred but have not yet been paid or recorded in the company's ledger.

Unearned Service Revenue

Income received by a company for services that have not yet been performed, considered a liability until the service is provided.

Service Revenue

Income earned by a company for the services it provides to its customers.

Cash

The most liquid asset, representing currency or its equivalent that can be accessed immediately or near-immediately.