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A liability is properly accounted for as an account payable if

pharmdwannabe

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A liability is properly accounted for as an account payable if

A liability is properly accounted for as an account payable if

▸ the amount is known and owed as of the balance sheet date.

▸ the amount can be estimated and is owed at the balance sheet date.

▸ the amount is known at the balance sheet date and owed by the end of the next fiscal year.

▸ the amount is estimated and owed within 90 days of the balance sheet date.

Textbook

Auditing and Assurance Services

Auditing and Assurance Services

Edition: 17^th

Authors: Arens, Elder, Beasley, Hogan

Read 28 times

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paris.chen

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