Self-Test 1-1: Business Process Cycles and Transactions
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Revenue Cycle
Ship goods to LFR company Update accounts receivable to reflect payment received
Production or Conversion Cycle
Finalize designs for new heavy duty snowmobile Build cabinets for custom home
Expenditure Cycle
Receive ordered goods from EAB company Order office supplies on CLR company website
Financing Cycle
Refinance a commercial real estate loan to lower interest rates Launch an initial public offering for your software company
Human Resources and Payroll Cycle
Teach a new security training course to employees Finalize new commission structure for sales people