Which transaction cycle includes interactions between an organization and its suppliers ........

Accountancy (Phase -I & II) Accounting as a financial information system

Download Solution PDF

Which transaction cycle includes interactions between an organization and its suppliers?

revenue cycle

expenditure cycle

human resources/payroll cycle

general ledger and reporting system

छोटे Courses बड़े Results

Master Accounting as a financial information system

Prepare through Micro-courses

Try Now

Explanation:

The expenditure cycle is the set of activities related to the acquisition of and payment for goods and services. These activities include the determination of what needs to be purchased, purchasing activities, the receipt of goods, and payments to suppliers. Much of the input to the expenditure cycle comes from the sales cycle, where purchasing requirements are driven by the volume and type of customer orders.