Which of the following is not normally considered a step in the credit sales functions?Select one:a.shipping the sales ordersb.accepting customer ordersc.approving creditd.acquiring goods to fill the order

Select the function in the acquisitions and payment cycle where the requisition form and the purchase order forms are required before a transaction can be initiated.a.The recording of purchases function.b.The receiving of goods function.c.The payment preparation function.d.The ordering of goods function

Select the best alternative to complete the sentence. The role of the ______ function in the acquisitions and payments cycle, is to ensure that only valid creditors are paid and that they are paid the correct amount, on time. a.recording of purchasesb.payment preparationc.actual payment and recordingd.receiving of goods

The credit departmentSelect one:a.none of the aboveb.approves credits to accounts receivable when payments are receivedc.authorizes the granting of credit to customersd.prepares credit memos when goods are returned

It refers to all the steps involved in processing customer orders from the moment a customer places the order to when payment is received and applied to accounts receivable.

In the revenue and receipts cycle, a new customer wishes to purchase inventory on credit, at your shop. Select the first step that you will insist should be followed by your staff. a.Request a valid purchase order from the customer before processing the order.b.Create a correct purchase order, signed by the customer.c.Request that a credit application form be completed by the customer.d.Set up an accounts receivable account for the customer in the accounts receivable ledger.