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Author Question: Team Shirts ordered T-shirts from its supplier in June. The T-shirts were delivered in July. Team ... (Read 195 times)

serike

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on: Jul 5, 2018
Team Shirts ordered T-shirts from its supplier in June. The T-shirts were delivered in July. Team Shirts paid the bill in August and sold the T-shirts in September. When should Team Shirts recognize an expense using cash-basis accounting?
 
  A) June
  B) September
  C) August
  D) July

Question 2

Assuring that cash collections recorded in the cash receipts event data are credited to the right customer in the accounts receivable master data addresses the control goal of:
 a. ensure input accuracy
  b. ensure input completeness
  c. ensure update accuracy
  d. ensure update completeness


nothere

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Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

C


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serike

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Reply #2 on: Jul 5, 2018
Correct answers!


nothere

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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