Shared Flashcard Set

Details

AIS Chapter 11
Concepts/definitions
6
Accounting
11/19/2009
Click here to study/print these flashcards.

Create your own flash cards! Sign up here.

Additional Accounting Flashcards

 

 

Cards

Term

 

 

Expenditure Cycle

 Definition


a recurring set of business activities and related data processing operations associated with the purchase of and payment for goods and services.
Term

 

 

3 Activities of Expenditure

Cycle

 Definition


1. Ordering
2. Receiving
3. Paying
Term

 

 

 

Order Goods-

 Definition


Generate the Purchase Order that serves as the customer input to the Sales Order Entry process
Term

 

 

Receive Goods

 Definition

Handle the goods sent by supplier's Shipping Function
Term

 

 

Pay for Goods

 Definition


Generate the payments that are processed by the supplier's Cash Collection Activity
Term
 Definition