In the Expenditure Cycle,evaluated Receipt Settlement Increases Efficiency by

question 78

Multiple Choice

In the expenditure cycle,evaluated receipt settlement increases efficiency by

• A)eliminating the need for receiving reports.
• B)eliminating the need for vendor invoices.
• C)eliminating the need for purchase orders.
• D)eliminating the need to prepare and mail checks.

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Definitions:

Cost-push Inflation

Inflation caused by an increase in prices of inputs like labour, raw material, etc. It’s when the supply side of the economy’s production function becomes more expensive.

Demand-pull Inflation

Inflation that occurs when the demand for goods and services exceeds their supply, leading to an increase in prices.

Demand-pull Inflation

A situation where inflation is caused by an increase in demand for goods and services, exceeding the available supply.

Cost-push Inflation

Inflation caused by an increase in production costs, such as raw materials and wages, which leads to a decrease in the supply of goods and services at the same price levels.