Multiple Choice Question A(n) system involves the processing of purchases and payments made on account. O imprest 0 reconcher 0 accounts payable 0 cash receipts

The correct answer to the question is "accounts payable." Here's the reasoning: - **Imprest system**: This typically refers to a system for managing petty cash, not specifically related to purchases and payments on account. - **Reconciler**: This term generally refers to the process of ensuring that two sets of records (usually bank statements and accounting records) are in agreement, not directly related to purchases and payments. - **Accounts payable**: This is the term used for the amounts a company owes to suppliers for purchases made on credit. It directly involves the processing of purchases and payments made on account. - **Cash receipts**: This term refers to the money received by a business, which is not specifically about purchases and payments made on account. Thus, the best choice is **accounts payable**.