42.2k views
5 votes
The following collections can be classified under what category code?

A. Collection for travel overpayment
B. Ship's store collection while ship was import Portland Oregon
C. Collection for overpayment of pay & allowance

User Adeniyi
by
7.9k points

1 Answer

1 vote

Answer:

The collections can be categorized under financial management within business, where they signify the process of recovering overpaid funds in various situations including travel expenses, ship's store sales, and employee pay.

Step-by-step explanation:

The collections mentioned in the student's question are typically classified under the category of financial management within the domain of business and accounting practices. Each collection refers to the recovery of funds that were previously disbursed in error, such as travel overpayments, overpayments of pay & allowances, or funds that need to be collected due to transactions at a ship's store.

These types of transactions are often categorized for financial reporting and accounting reconciliation purposes. They require careful tracking and documentation to ensure that all finances are accurately accounted for and that any necessary refunds or adjustments are made to rectify the overpayments.

Travel overpayment collections would involve reclaiming funds disbursed for travel expenses that exceeded the amount authorized or necessary. Ship's store collections would be funds collected from sales or services provided by a ship's store while docked, such as in Portland, Oregon. Lastly, collections for overpayment of pay & allowances are adjustments made to recover funds that were paid in excess to military personnel or employees.

User Stolho
by
7.2k points