If There Is No Cash Involved in a Particular Business

question 92

Multiple Choice

If there is no cash involved in a particular business transaction then the transaction should be recorded in:

• A)either cash receipts journal or general journal.
• B)either sales journal or purchases journal.
• C)only general journal.
• D)sales journal, purchases journal, or general journal.

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Definitions:

Demand Uncertainty

The difficulty in accurately predicting customer demand, affecting inventory management, production planning, and capacity utilization.

Forecast Error

The difference between the forecasted value and the actual value that occurs, indicating the accuracy of forecasts.

Strategic Fit

The alignment of organizational strategies, resources, and capabilities with the external environment to achieve competitive advantage.

Responsiveness Spectrum

A range indicating the degree to which a system or process can adjust quickly to changes or demand without compromising quality or performance.