What event initiates a transaction in the sales and collection cycle?
A) receipt of cash
B) delivery of product to a customer
C) identification of a new customer
D) customer request for goods or services

Question

Quizplus · Accepted Answer

The customer request for goods or services initiates the transaction in the sales and collection cycle. This request triggers the sales order process, which leads to the delivery of the products or services to the customer and ultimately the collection of payment. Receipt of cash, delivery of product to a customer, and identification of a new customer may occur after the transaction is initiated.

What Event Initiates a Transaction in the Sales and Collection