In Which Transaction Cycle Would Information for Inventory Purchases Be

question 23

Multiple Choice

In which transaction cycle would information for inventory purchases be most likely to pass between internal and external accounting information systems?

• A)the revenue cycle
• B)the expenditure cycle
• C)the human resources / payroll cycle
• D)the financing cycle

---

Definitions:

Plaintiff

The party initiating a lawsuit, alleging harm caused by the defendant and seeking legal remedy.

Defendant

The individual or group that the legal action is brought against in a court setting.

Damages

Financial compensation awarded by a court to indemnify a harmed party for loss or injury resulting from a breach of contract or wrongdoing.

Quantum Meruit

(“as much as is deserved”) a reasonable price paid for requested services.