A company typically records the amount owed to suppliers for goods or services when:
A)they are ordered.
B)a verbal commitment to purchase the goods or services has first been made.
C)payment is made.
D)the goods or services are received.

Question

Quizplus · Accepted Answer

Initially,the company records each liability at the amount of cash a creditor would accept to settle the liability immediately after a transaction or event creates the liability.The liability is created in this situation when the goods or services are received.

A Company Typically Records the Amount Owed to Suppliers for Goods