Accounting Information Systems (14th Edition)
14th Edition
ISBN: 9780134474021
Author: Marshall B. Romney, Paul J. Steinbart
Publisher: PEARSON
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Chapter 17, Problem 1CQ
To determine
Indicate the correct option for the given statement.
Expert Solution & Answer
Answer to Problem 1CQ
Option d.
Explanation of Solution
a. Option “a” is an incorrect option, because accounts receivable is not a resource, but it is simply the difference between the sales and received cash events.
b. Option “b” is an incorrect option, because an account receivable is not an event; however it represents the difference between two events.
c. Option “c” is an incorrect option, because account receivable is not an event agent. Agents are people or organizations.
d. Option “d” is the incorrect option, because none of the above is correct.
Conclusion
Therefore, the correct option is option d.
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Chapter 17 Solutions
Accounting Information Systems (14th Edition)
Ch. 17 - Prob. 1CQCh. 17 - Prob. 2CQCh. 17 - Prob. 3CQCh. 17 - Prob. 4CQCh. 17 - Prob. 7CQCh. 17 - Prob. 8CQCh. 17 - Prob. 1DQCh. 17 - Prob. 2DQCh. 17 - Prob. 3DQCh. 17 - Prob. 4DQ
Ch. 17 - Prob. 5DQCh. 17 - Prob. 8DQCh. 17 - Joe’s is a small ice-cream shop located near the...Ch. 17 - Prob. 2PCh. 17 - Prob. 3PCh. 17 - Prob. 4PCh. 17 - Prob. 8PCh. 17 - Prob. 9PCh. 17 - Which of the following steps in the revenue cycle...Ch. 17 - Which of the following steps in the expenditure...Ch. 17 - Customers are sent monthly statements that list...Ch. 17 - A company’s suppliers send it separate invoices...Ch. 17 - A grocery store sells to individuals and also to...Ch. 17 - ABC company has a checking account, savings...Ch. 17 - An important analytical and problem-solving skill...
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