At what point in the sales and collection cycle does the company first give up assets?
A) Credit approval.
B) Shipment of goods.
C) Sales approval.
D) Cash collection.

Question

Quizplus · Accepted Answer

The company first gives up assets at the point of shipment of goods, as this is when the product is physically sent to the customer, indicating a transfer of ownership and control of the asset from the company to the customer.

At What Point in the Sales and Collection Cycle Does