John Pablo Works in the Accounting Department of a Multinational

question 28

Multiple Choice

John Pablo works in the accounting department of a multinational manufacturing company.His job includes updating accounts payable based on purchase orders and checks.His responsibilities are part of the company's

• A)revenue cycle.
• B)expenditure cycle.
• C)financing cycle.
• D)production cycle.

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Definitions:

Materials Purchased

The raw inputs or components bought by a company for use in the production of its goods.

Account

A record within an accounting system that tracks the financial transactions for a specific asset, liability, equity, revenue, or expense.

Activity Bases

Factors or units of measure that are used to allocate costs to cost objects, often related to production or sales volume.

Quality Inspections

The systematic examination of goods or services to ensure they meet specified standards of quality and performance.