A Way to Incorporate the Advantages of Electronic Data Interchange

question 56

Multiple Choice

A way to incorporate the advantages of Electronic Data Interchange with the Electronic Funds Transfer is

• A)Financial Electronic Data Interchange.
• B)e-commerce.
• C)to use procurement cards.
• D)an electronic lockbox.

---

Definitions:

Revenue

The total amount of money received by a company for goods sold or services provided during a certain period.

Record Payments

The process of documenting all money transfers made to settle debts or for purchases in the accounting records of a company.

Perpetual Inventory Method

An accounting method for maintaining continuous records of inventory balances, with updates made for each purchase and sale transaction.

Merchandise Inventory

Products held by a business for the purpose of sale to customers, a key asset in retail and wholesale operations.