Acg 4401 Final Exam Vocab Updated Actual Questions And Correct Answers

ACG 4401 FINAL EXAM VOCAB UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
ACG 4401 FINAL EXAM VOCAB
AND CORRECT ANSWERS
an association between instigation and
event fulfills the instigation event OR an
economic events whereby the economic event
Fulfillment Association
1




Answer:
UPDATED ACTUAL QUESTIONS
commitment events whereby the commitment

, association between commitment events and
fulfills the commitment event
Bill of Lading
2

Question:
a document that indicates the transfer of custody of goods from the enterprise to
a common carrier, including details about how many packages comprise the
shipment, the dimensions and/or weight of those packages, the shipping costs,
and the party responsible for shipping costs
Answer:
Bill of Lading

Question:
Check
Answer:
a document used to authorize the transfer of cash from one person or enterprise
to another

Question:
an event in which the enterprise enters into agreements expected to result in a
future economic event
Answer:
Commitment Event

Question:
Economic Reversal Event
Answer:
an activity that negates a previous event that had increased (decreased) a
resource; therefore the reversal event decreases (increases) the resource

Question:
- a person or organization with which an enterprise trades resources
- aka external business partner
Answer:
External Agent

Question:
Fulfillment Association
Answer:
an association between instigation and commitment events whereby the
commitment event fulfills the instigation event OR an association between
commitment events and economic events whereby the economic event fulfills the
commitment event

Question: