Within the Make Payment Process, the Three Sub-Processes Are "Prepare

question 5

Short Answer

Within the make payment process, the three sub-processes are "Prepare proposed payments", "Select and record payments," and ______________________________.

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Definitions:

Financial Statements

Reports that summarize the financial performance and position of a business, including balance sheet, income statement, and cash flow statement.

End-Of-Period Spreadsheet

A financial document used to gather and adjust account information from the ledger in order to prepare financial statements at the end of an accounting period.

Capital Balance

The amount of money that owners have invested in a company, not including any profits or losses.

Natural Business Year

A fiscal year that ends when a company's sales are at their lowest point in their annual cycle.