Match the Database Table to the Appropriate Transaction Cycle

question 60

Multiple Choice

Match the database table to the appropriate transaction cycle.
-General Ledger

• A)Banking Cycle
• B)Sales Cycle
• C)Purchasing Cycle
• D)Financial Cycle
• E)Payroll Cycle

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Definitions:

Percentage-Of-Completion

An accounting method used to recognize revenue and expenses of long-term contracts proportionally over the life of the contract based on the degree of completion.

Efforts-Expended Method

A accounting technique used to recognize revenue proportionally to the work or effort that has been completed on a project, commonly applied in long-term contracts.

Output Measures

Metrics or indicators used to quantify the level of products or services produced by a company or an industry.

Deposit Method

A method of accounting used for transactions where the receipt or payment of money precedes the delivery of goods or services, recognizing the transaction when the delivery occurs.