Question
Goods purchased were shipped Dec. 31, 2018, and received as of 12/31/2018. The invoice was not received until January 10, 2019. FOB shipping. The companys
Goods purchased were shipped Dec. 31, 2018, and received as of 12/31/2018. The invoice was not received until January 10, 2019. FOB shipping. The companys practice is not to record liability until the receipt of the invoice. Is this an unrecorded liability as of 12/31/18? Was 2018 net income misstated?
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The Practitioners Blueprint To Construction Auditing
Authors: Ron Risner
1st Edition
0894137263, 978-0894137266
