As It Does in Other Business Processes Like Sales and Revenue

Multiple Choice

As it does in other business processes like sales and revenue recognition, the system processes and stores the cash collection data. The processed data can appear in reports that can help a company improve processes and mitigate risks. Choose from the following list the best definition of an outstanding balances report.

A) Summarized by customers over a period of time
B) Summarizes outstanding amounts due by customer
C) Summarizes the current balance in accounts payable for each customer at a specific point in time
D) Bank reconciliation between bank statements and the control account in the general ledger