Asked by eliza mason on Apr 30, 2024
Verified
Norah is interested in developing her payables policy.She wants to make a policy for which of the following?
A) the process and timing in which obligations to pay for goods and services received by the business will be paid
B) the price and timing of raw materials,and other goods and services necessary to build,sell,and support products
C) how pricing will be determined for her products and services
D) the process and timing in which obligations to pay for products and services sold will be billed and collected
Payables Policy
The process and timing in which obligations to pay for goods and services received by the business will be paid.
Goods and Services Received
The tangible and intangible items that are provided or delivered to a recipient.
- Differentiate between accounts payable and accounts receivable.
Verified Answer
MB
Mitzi BoltonMay 01, 2024
Final Answer :
A
Explanation :
Developing a payables policy involves determining the process and timing in which obligations to pay for goods and services received by the business will be paid. Option B relates to procurement policies, option C relates to pricing policies, and option D relates to accounts receivable policies.
Learning Objectives
- Differentiate between accounts payable and accounts receivable.
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