Which of the following is not one of the classes of transactions in the acquisition and payment cycle?
A) acquisition of common stock
B) acquisition of goods and services
C) cash disbursements
D) purchase returns and allowances and purchase discounts

Question

Quizplus · Accepted Answer

The acquisition of common stock is not considered a transaction in the acquisition and payment cycle, as it involves issuing equity securities and not the purchase of goods or services or the disbursement of cash. The other options - acquisition of goods and services, cash disbursements, and purchase returns and allowances and purchase discounts - are all classes of transactions within the acquisition and payment cycle.

Which of the Following Is Not One of the Classes