Which of the Following Documents Normally Triggers the Billing Process

question 48

Multiple Choice

Which of the following documents normally triggers the billing process in the revenue cycle?

• A) Packing slip received from the shipping department
• B) Sales order received from the sales department
• C) Picking ticket received from the sales department
• D) Journal voucher received from the shipping department

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Definitions:

Opportunity Cost

The potential benefit that is missed out on when choosing one alternative over another.

Production Possibilities

Production possibilities refer to the different combinations of goods and services that an economy can produce given its available resources and technology, illustrated by the production possibilities frontier (PPF).

Consumer Goods

Products and services that are consumed by individuals or households to satisfy their immediate needs and wants.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing an action.