The basic acquisition and expenditure activities are (1)purchasing goods and services,(2)receiving the goods or services,(3)recording the asset or expense and related liability,and (4)paying the vendors.

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This statement is true. The four basic acquisition and expenditure activities are purchasing goods and services, receiving the goods or services, recording the asset or expense and related liability, and paying the vendors.

The Basic Acquisition and Expenditure Activities Are (1)purchasing Goods and Services,(2)receiving