Which of the following statements is false?
A) The typical B/AR/CR system assists in preparing internal and external reports.
B) Cash receipts can be accelerated by using some form of EFT.
C) The two types of adjustments that commonly result from a periodic review of the aging details of customer account balances are a recurring entry for estimated bad debts and a bad debt write-off.
D) Cash receipts events data are comprised of one or more invoice records.

Question

Quizplus · Accepted Answer

Cash receipts events data are not comprised of invoice records. They are typically comprised of a deposit record and one or more remittance records.

Which of the Following Statements Is False