A Primary Account Balance in the Revenue Cycle Is _______

question 106

Multiple Choice

A primary account balance in the revenue cycle is _______.

• A)accounts payable
• B)accounts receivable
• C)cost of goods sold
• D)gross profit

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Definitions:

Reinstatement

The process of restoring something to its previous state or position, such as reinstating a policy, agreement, or official status.

Office Furniture

Items typically used in a workplace setting, including desks, chairs, filing cabinets, and bookshelves, designed to support various office activities.

Supersedes Oral Promises

Takes precedence over and replaces any agreements or guarantees made verbally, establishing a new authoritative standard or condition.

Transaction

A business deal or action, such as buying, selling, or exchanging goods, services, or financial assets, between two or more parties.