In an Expenditure Cycle Diagram,which of the Following Is an Example

question 56

Multiple Choice

In an expenditure cycle diagram,which of the following is an example of an event that larger organizations might want to include in their extended REA model?

• A)Request.
• B)Order.
• C)Ship Order.
• D)Fill Order.

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Definitions:

Undeposited Funds

An account used in accounting to hold funds that have been received but not yet deposited into a bank account.

Customer Payments

The transactions where a customer pays the company for goods or services provided.

Asset Account

An account on a balance sheet representing resources owned by a company with future economic value.

Debited

An accounting entry that increases an asset or expense account, or decreases a liability or equity account.