Before Goods Are Shipped on Account, a Properly Authorized Person

question 26

Multiple Choice

Before goods are shipped on account, a properly authorized person must

• A) prepare the sales invoice.
• B) approve the journal entry.
• C) approve the customer's credit.
• D) verify that the unit price is accurate.

Comprehend efficiency and effectiveness concepts in the context of business process management.

Recognize different strategies for gaining competitive advantage in the marketplace.

Understand the impact of technology in enhancing customer experience and operational processes.

Recognize the role of continuous improvement mechanisms such as BPI, BPM, and BPR in business process optimization.

---

Definitions:

General Partners

Individuals in a partnership who are responsible for managing the business and are personally liable for its debts.

Distribution of Assets

The process of allocating a company's or an individual's assets among rightful claimants or heirs.

Dissolution

The process of formally closing or ending a business or legal entity.

Limited Partnership

A business structure where at least one partner has unlimited liability and at least one partner has liability only up to the amount they have invested.