Controls over the acquisition and recording of insurance are a part of which of the following transaction cycles?
A) inventory and warehousing cycle
B) capitalization cycle
C) treasury cycle
D) acquisition and payment cycle

Question

Quizplus · Accepted Answer

The acquisition and payment cycle involves all transactions related to the acquisition of goods and services, including insurance. Controls in this cycle help ensure that insurance is acquired and recorded accurately and timely.

Controls Over the Acquisition and Recording of Insurance Are a Part