The classes of transactions in the acquisition and payment cycle include acquisition of:
a. goods.b. goods and services.
c. goods and services, and cash disbursements.
d. goods and services, cash disbursements, and purchase returns and allowances.
The classes of transactions in the acquisition and payment cycle include acquisition of:
b. goods and services.
c. goods and services, and cash disbursements.
d. goods and services, cash disbursements, and purchase returns and allowances.