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  2. Topic
    Business
  3. Study Set
    Auditing Assurance Services
  4. Exam
    Exam 12: Audit of the sales and collection cycle: Tests of controls and substantive tests of transactions
  5. Question
    The Sales and Collection Cycle Involves the Transfer of Ownership
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The Sales and Collection Cycle Involves the Transfer of Ownership

Question 14

Question 14

True/False

The sales and collection cycle involves the transfer of ownership of goods to customers and involves the conversion of services into accounts receivable.

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