Which of the following accounts is not normally part of the revenue and collection cycle?
A)Sales.
B)Accounts Receivable.
C)Cash.
D)Purchases Returns and Allowances.

Question

Quizplus · Accepted Answer

Purchases Returns and Allowances is part of the expenditure cycle, not the revenue and collection cycle. The revenue and collection cycle typically includes sales, accounts receivable, and cash.

Which of the Following Accounts Is Not Normally Part of the Revenue