menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Auditing Assurance Services Study Set 1
  4. Exam
    Exam 12: Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions
  5. Question
    Most Companies Recognise Sales When
Solved

Most Companies Recognise Sales When

Question 10

Question 10

Multiple Choice

Most companies recognise sales when:


A) the merchandise is received by the customer.
B) a customer order is received.
C) cash is received on account.
D) the merchandise is shipped.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q5: Which of the following is NOT an

Q6: The parts of the audit most affected

Q8: The process which postpones entries for the

Q11: To test for nonexistent transactions, the direction

Q12: In many audits of sales transactions, no

Q13: An effective procedure to test for unbilled

Q14: The total of the individual account balances

Q15: To determine that sales are accurately recorded,

Q25: Misstatements involving the completeness objective for sales

Q57: Discuss the types of misstatements the auditor

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines