Sales, Sales Order Processing, Shipping, and Accounts Receivable Are All

question 36

Multiple Choice

Sales, sales order processing, shipping, and accounts receivable are all part of which of the following processes?

• A) The financial process
• B) The revenue process
• C) The purchasing process
• D) The inventory process

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Definitions:

Vendor/Supplier Managed

A situation in which the supplier takes responsibility for maintaining inventory levels and ordering supplies, typically based on previously agreed-upon guidelines with the purchaser.

Purchasing Cards

Specialized payment cards issued to employees to make procurement transactions more efficiently and to reduce processing costs.

Small Value Orders

Purchases or orders of relatively low monetary value, which might not warrant the same level of procurement scrutiny as larger expenditures.

E-Procurement System

An electronic system that automates the purchasing and procurement processes of organizations.