Question

Which of the activities in a revenue cycle does not involve a Get or Give event?

A. Bill customers.
B. Take customer orders.
C. Fill customer orders.
D. Collect payment from customers.
E. A and B

Answer 1

In the revenue cycle, taking customer orders is the activity that does not involve a "Get or Give" event, as it is the process of accepting requests without the actual exchange of goods or services for money.

Step-by-step explanation:

The question concerns the activities involved in a revenue cycle within a business context. A revenue cycle refers to the series of events in a business that leads to the recognition of revenue and involves various 'Get or Give' events—typically representing transactions where goods or services are exchanged for money. Each option, except one, describes such a transaction:

• Bill customers: This is a "Get" event where the business issues an invoice for goods or services provided and expects to collect payment.
• Take customer orders: This activity, while important, is not a "Get or Give" event because it simply involves accepting a customer's request for goods or services. No exchange has taken place at this point.
• Fill customer orders: This is a "Give" event where the business delivers the product or service to the customer. It is usually followed by a "Get" event when payment is collected.
• Collect payment from customers: This is a definite "Get" event as it involves receiving payment for the goods or services provided.

Thus, the activity that does not involve a "Get or Give" event is B. Take customer orders.