Revenue, purchase, and employee costs systems

Question 1

What are the stages of the revenue system?

Answer 1

Order taken, goods despatched, invoice raised, sale recorded, and cash collected.

Question 2

What are the stages of the purchases system?

Answer 2

Order placed, goods received, invoice received, purchase recorded, cash paid.

Question 3

What are the stages of the employee costs system?

Answer 3

Calculate, record, and pay wages and salaries.