question archive 1) The accounts related to the revenue cycle include all of the following except: a
1) The accounts related to the revenue cycle include all of the following except: a
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1) The accounts related to the revenue cycle include all of the following except:
a. inventories
b. accounts receivable
c. sales return and allowance
d. sales
e. bad debt expense
2.The financial statement assertions that are most relevant to Accounts Receivable are what?
a. existence and presentation & disclosure
b. Valuation and rights & obligations
c. Completeness and occurrence
d. existence and valuation
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1. Option e:- bad debt expense
The accounts related to the revenue cycle include all of the following inventories accounts, receivable, sales return and allowance, sales except bad debt expense as it has no impact in revenue cycle because it is beyond the period of revenue cycle.
2. Option d:- existence and valuation
The financial statement assertions that are most relevant to Accounts Receivable are existence and valuation. Existence expressed whether accounts receivable is actually exist or not and valuation represent its measurement.
