Author Question: Team Shirts ordered T-shirts from its supplier in June. The T-shirts were delivered in July. Team ... (Read 207 times)

serike

  • Hero Member
  • *****
  • Posts: 542
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

  • Sr. Member
  • ****
  • Posts: 324
Answer to Question 1

C

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

For a complete list of videos, visit our video library