Which of the following accounts is not part of the acquisition and payment cycle?
A) prepaid expenses
B) accounts payable
C) sales returns and allowances
D) property, plant, and equipment

Name: Which of the following accounts is not part of the acquisition and payment cycle? A) prepaid expenses B) accounts payable C) sales returns and allowances D) property, plant, and equipment
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Sales returns and allowances are not part of the acquisition and payment cycle; they are part of the revenue cycle.

Which of the Following Accounts Is Not Part of the Acquisition