Quiz 2 Acct - Question 1 2 out of 2 points The expenditure...

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Question 1 2 out of 2 points The expenditure, conversion and revenue cycles exist in all types of businesses to include both for profit and not for profit. Answer Selected Answer: Correct Answer: Question 2 2 out of 2 points Which statement is NOT true? Answer Selected Answer: Manufacturing firms have a conversion cycle but retail firms do not. Correct Answer: Manufacturing firms have a conversion cycle but retail firms do not. Response Feedback: Retail firms do have a conversion cycle that includes readying the product and services for market. Business activities begin with the expenditure cycle as described in answer 1. Product documents are the result of transaction processing. A payroll check is a product development of the payroll system. Question 3 2 out of 2 points Which statement is NOT correct? Answer Selected Answer: All the above are true. Correct Answer: All the above are true.
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Question 4 2 out of 2 points Which statement is NOT correct?
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