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 part of the sales and collection cycle, not the acquisition and payment cycle.

Which of the Following Accounts Is Not Part of the Acquisition