Answer the following mcq's (no explanation needed)

1.Which of the following accounts is part of the acquisition and payment cycle?

a.Sales returns and allowances

b.Property, plant, and equipment.

c.Retained earnings.

d.Accounts Receivable.

2.Which of the following is an account that is affected by the sales and collection cycle?

a.Retained earning

b.Prepaid expenses.

c.Allowance for doubtful accounts

d.Accounts payable.

3.The sales and collection cycle applies to:

a.Non-profit organizations.

b.none of the mentioned answers.

c.Corporates.

d.Governmental Bodies

4.The document that includes a request by the customer for goods or services is:

a.vendor invoice

b.sales order

c.sales invoice

d.customer order

5.Which of the following is an account that is not affected by the sales and collection cycle?

a.Allowance for doubtful accounts

b.Accounts receivable

c.Accounts payable

d.Cash

6.The company gives up assets during the sales cycle at the following point:

a.Customer request for goods

b.Delivery of product to a customer

c.Receipt of cash

d.Identification of a new customer