Inputs to the B/AR/CR Process Normally Could Include All of the Following

question 100

Multiple Choice

Inputs to the B/AR/CR process normally could include all of the following except:

• A) a copy of the sales order sent by the sales order function to the billing function
• B) a shipping notice sent by the shipping function to the billing function
• C) customer acknowledgement
• D) remittance advice

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Definitions:

Depreciation

An accounting method of allocating the cost of a tangible asset over its useful life to account for declines in value over time.

Plant Assets

Durable physical assets employed in the running of a business, designed for long-term use and not for being sold off.

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded in the company's financial statements.

Accrued Revenues

Revenues that have been earned but not yet received in cash or recorded at the statement date, common in service-related transactions.