When Goods Are Received at the End of the Accounting

question 71

Multiple Choice

When goods are received at the end of the accounting period, and the invoice is not received until after the start of the following period, a problem may arise as to when to record the liability.This is referred to as a(n) :

• A)Obligation referral
• B)Cutoff issue
• C)Liability deferral
• D)Channel stuffing

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Brain

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Seconds

A unit of time equal to one sixtieth of a minute, also used to denote a moment or brief period of time.

Psychological Effects

The impact of events, situations, or substances on an individual's mental state and behavior.

Physical Effects

The tangible or bodily outcomes resulting from an action, condition, or impact.