COST ACCOUNTING
COST MANAGEMENT SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Receipt Accounting-Receipt Accounting Distributions Real Time
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Receipt Accounting ____ Receipt Accounting Transactions Real Time
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Costing-Receipt Accounting Real Time
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Financials-Subledger Accounting-Detail Transactions
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Costing-Cost Accounting Real Time
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Detailed explanation-1: -Oracle Receipt Accounting is used to create, manage, review, and audit purchase accruals. It includes the following features: Create Receipt Accounting Distributions. Create accounting distributions for receipts of accrue at receipt purchase orders.
Detailed explanation-2: -Receipt Accounting business processes which enable cost accountants to create accruals for purchase order receipts that are expensed or destined for inventory, reconcile the accrual balances against invoices from accounts payable, clear the accruals, and generate accounting distributions for accruals.
Detailed explanation-3: -Receipts are issued in business-to-business dealings as well as stock market transactions. Receipts are also necessary for tax purposes as proof of certain expenses. In accounting, receipts can also refer to the total cash inflows over a specific period of time.