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Describe for each function below their role in the acquisition and payment cycle:
Purchasing
Invoice Processing
Accounts Payable
Adoption of New Technology
The process by which individuals, businesses, or societies begin using new technological tools, systems, or products, often to improve efficiency, productivity, or quality of life.
Government Aid
Financial assistance or other resources provided by the government to individuals, organizations, or countries in need.
Profit-Making Organizations
Entities that operate with the primary goal of earning revenue in excess of their operational costs.
Private Non-Profit Agencies
Organizations that operate independently from government control, not seeking to generate profits for owners or shareholders, and often focused on serving social or community-based causes.
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