Which of the following accounts is NOT a major account in the acquisition and payment cycle?
A) Inventory.
B) Cost of goods sold.
C) Accounts payable.
D) All of the above are major accounts.

Question

Quizplus · Accepted Answer

All of the listed accounts are major accounts in the acquisition and payment cycle, as they are directly involved in the process of acquiring goods and services and making payments for them.

Which of the Following Accounts Is NOT a Major Account