For each of the business events listed in the following table, (1) identify the business process...

 

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For each of the business events listed in the following table, (1) identify the business process for the event in a process-based approach and (2) identify the traditional accounting cycle(s) for the event. For non-accounting events, use "not applicable" where necessary." Business Process Approach Traditional Accounting Cycle(s) Business Event 1. Ship goods to credit customer 2. Pay hourly employees for the week 3. Sell goods for cash 4. Order a new factory machine 5. Receive raw materials from vendor 6. Receive payment from credit customer 7. Take out a loan to pay for new factory machine 8. Pay a dividend to shareholders Sales and collection Acquisition and payment Acquisition and payment < Sales and collection > For each of the business events listed in the following table, (1) identify the business process for the event in a process-based approach and (2) identify the traditional accounting cycle(s) for the event. For non-accounting events, use "not applicable" where necessary." Business Process Approach Traditional Accounting Cycle(s) Business Event 1. Ship goods to credit customer 2. Pay hourly employees for the week 3. Sell goods for cash 4. Order a new factory machine 5. Receive raw materials from vendor 6. Receive payment from credit customer 7. Take out a loan to pay for new factory machine 8. Pay a dividend to shareholders Sales and collection Acquisition and payment Acquisition and payment < Sales and collection >

Answer rating: 100% (QA)

Business Event Business Process Approach Traditional Accounting Cycles Ship goods to credit customer ... View the full answer