Evaluated Receipts Settlement Is ________

question 77

Multiple Choice

Evaluated Receipts Settlement is ________.

• A) a streamlined process that bypasses paper documents altogether
• B) a process that eliminates the need for separation of duties
• C) a procedure that compresses the payment approval process into a single step by comparing the receiving report to the purchase order
• D) an organizational plan and all the related measures adopted by an entity to safeguard assets, encourage employees to follow company policies, promote operational efficiency, and ensure accurate and reliable accounting records

---

Definitions:

Operating Expenses

Costs associated with a business’s operations, including rent, utilities, payroll, and materials, but excluding the cost of goods sold.

Discounted Price

The reduced price of a good or service, typically offered for promotions or sales.

Retail Selling Price

The final price at which goods are sold to consumers, including all taxes, markups, and additional costs.

Mark-up

The amount added to the cost price of goods to cover overhead and profit, determining the selling price.