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  3. Study Set
    Auditing and Assurance Services Study Set 1
  4. Exam
    Exam 14: Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions
  5. Question
    Sales Should Be Recorded, at the Earliest, When
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Sales Should Be Recorded, at the Earliest, When

Question 23

Question 23

Multiple Choice

Sales should be recorded, at the earliest, when:


A) the order is received.
B) the order is received and credit is approved.
C) credit is approved and it is verified that there is enough inventory to fill the order.
D) the shipment takes place.

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