Sebastian Wrote a Check to Pay a Supplier's Invoice

question 13

Multiple Choice

Sebastian wrote a check to pay a supplier's invoice. The check had to be signed by two company officers and was later part of a monthly bank reconciliation. The canceled check was filed under the supplier's name.
-Filing the check under the supplier's name is an example of:

• A) Input.
• B) Processing.
• C) Output.
• D) Storage.

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Definitions:

Contract Exist

The state in which an agreement has the necessary elements of offer, acceptance, and consideration, making it legally enforceable.

Merchant Offeror

A seller or provider of goods and services who presents an offer in a commercial transaction, especially one with expertise or professional standing in the transaction's subject matter.

Firm Offer

an offer in contract law that remains valid for a certain period of time and cannot be withdrawn during that period by the offeror.

Written Offer

A formal proposal presented in written form, detailing the terms under which the offeror is willing to engage in a transaction or agreement.