Accounting Information Systems
Accounting Information Systems
9th Edition
ISBN: 9781133934400
Author: James A. Hall
Publisher: Cengage Learning
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Chapter 5, Problem 1P

a.

To determine

Describe whether the transaction will be considered as an unrecorded liability or not.

b.

To determine

Describe the document required to prove evidence for the unrecorded liability at the time of audit trail.

c.

To determine

Describe the date at which the liability will be realized by the buyer.

d.

To determine

Describe the date at which the liability will be recognized by the buyer.

e.

To determine

Describe whether the transaction will be considered as an unrecorded liability or not under FOB destination.

f.

To determine

Describe the document required to prove evidence for the unrecorded liability at the time of audit trail under FOB destination.

g.

To determine

Describe the date at which the liability will be realized by the buyer as per FOB destination.

h.

To determine

Describe the date at which the liability will be recognized by the buyer as per FOB destination.

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