Multiple Choice
Which of the following accounts is not a major account in the acquisition and payment cycle?
A) Inventory.
B) Cost of goods sold.
C) Accounts payable.
D) All of the above are major accounts.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q51: Which of the following is not a
Q52: Auditors should consider the inherent risk that
Q53: A new vendor should be added to
Q54: The cash account is not part of
Q55: The major accounts in the acquisition and
Q57: Comparison of Controls in Traditional and Automated
Q58: The lower of cost or market assumption
Q59: The acquisition process begins with a purchase
Q60: When auditing accounts payable,the auditor would most
Q61: Authorized purchase of goods or services.<br>A)2,5,4,1,3<br>B)2,4,5,1,3<br>C)2,1,4,5,3<br>D)2,5,1,4,3