Answered: Which of the following items is NOT…

Which of the following items is NOT classified as a financial asset? a. promissory notes b. forward exchange contracts c. inventory d. accounts receivable

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter9: Auditing The Revenue Cycle.

Section: Chapter Questions

Problem 2CYBK: In the revenue cycle, the most significant accounts typically include revenue and accounts...

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Question

Which of the following items is NOT classified as a financial asset?
a. promissory notes
b. forward exchange contracts
c. inventory
d. accounts receivable

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