The business processe that includes goods storage, receiving vendor invoices, and updating payable accounts is called

a. the expenditure cycle. [Incorrect. The expenditure cycle involves interactions between an organization and its suppliers.]

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b. the revenue cycle. [Correct. The revenue cycle involves interactions between an organization and its customers, such as shipping them goods.]

c. the production or conversion cycle. [Incorrect. The production cycle involves the transformation of raw materials into finished goods.]

d. the financing cycle. [Incorrect. The financing cycle deals with interactions between an organization and its lenders and owners.]