Groups of related business activities such as the acquisition of merchandise and payment of vendors are called
A)transaction cycles.
B)economic cycles.
C)business events.
D)transactions.

Question

Quizplus · Accepted Answer

Groups of related business activities are called transaction cycles. These cycles are a series of steps that are carried out to complete a business transaction, such as the acquisition of merchandise and payment of vendors. Each cycle includes a number of different activities, such as ordering, receiving, and paying for goods, and each activity is designed to ensure that the transaction is completed accurately and efficiently.

Groups of Related Business Activities Such as the Acquisition of Merchandise