Company fails to record a sale on account, Accounting Basics

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Company fails to record a sale on account

If a company fails to record a sale on account:

a. revenue on the income statement will be overstated

b. accounts receivable on the balance sheet will be overstated.

c. net income on the income statement will still be correct

d. assets on the balance sheet will be understated.

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Accounting Basics: Company fails to record a sale on account

Reference No:- TGS047613

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Accounting Basics: Company fails to record a sale on account

Reference No:- TGS047613

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Equivalent units are in the ending inventory

Q : Physical units in the ending inventory

Q : Total materials cost incurred period

Q : Journal entries related to top investment

Q : Company fails to record a sale on account

Q : Find out the amount of overhead

Q : Compute the predetermined overhead rate-direct labor dollars

Q : Make a schedule of cost of goods manufactured

Q : How much is cost of goods sold

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Company fails to record a sale on account

Reference No:- TGS047613

Recent Questions Asked Accounting Basics

Q : Equivalent units are in the ending inventory

Q : Physical units in the ending inventory

Q : Total materials cost incurred period

Q : Journal entries related to top investment

Q : Company fails to record a sale on account

Q : Find out the amount of overhead

Q : Compute the predetermined overhead rate-direct labor dollars

Q : Make a schedule of cost of goods manufactured

Q : How much is cost of goods sold

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