Which of the following activities is not included in the acquisition and payment cycle?
A)Receipt of goods and services.
B)Approval of items for payment.
C)Application of cash receipts.
D)Authorized request for goods and services.

Question

Quizplus · Accepted Answer

The acquisition and payment cycle is primarily concerned with the purchase of goods and services and the subsequent payment for them. The receipt of cash receipts is not a part of this cycle, as it involves the collection and deposit of funds received from customers. Therefore, option C is the correct answer. Options A, B, and D are all activities that are included in the acquisition and payment cycle.

Which of the Following Activities Is Not Included in the Acquisition