Answered: Which of the following accounts does…

Which of the following accounts does not appear in the acquisition and expenditure cycle?a. Cash.b. Purchases returns.c. Sales returns.d. Prepaid insurance

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Which of the following accounts does not appear in the acquisition and expenditure cycle?
a. Cash.
b. Purchases returns.
c. Sales returns.
d. Prepaid insurance

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