The Revenue Cycle Consists of

question 51

Multiple Choice

The revenue cycle consists of

• A)one subsystem-order entry
• B)two subsystems-sales order processing and cash receipts
• C)two subsystems-order entry and inventory control
• D)three subsystems-sales order processing, credit authorization, and cash receipts

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Definitions:

Concrete Operational

A stage in Piaget's theory of cognitive development where children gain the ability to think logically about concrete events.

Language

A form of communication—whether spoken, written, or signed—that is based on a system of symbols.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched, a concept important in cognitive development of infants.

Conservation

In cognitive development, the understanding that an object's or substance's quantity does not change despite changes in its shape or form.