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Johnson CPAs have been hired by Longstaff LLC to examine their revenue-receivables cycle, and the associated processes. Johnson CPAs, upon reviewing Longstaff's revenue-receivables cycle have

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Johnson CPAs have been hired by Longstaff LLC to examine their revenue-receivables cycle, and the associated processes. Johnson CPAs, upon reviewing Longstaff's revenue-receivables cycle have made the recommendation that the client should consider switching to an evaluated receipts settlement system. One of Longstaff's senior managers asks the CPAs about what details would be contained in an agreement with a customer if they switched to this type of system. Which of the following are likely to represent components of such an agreement? (Select all that apply.) A clause discussing key payment terms, such as discounts for early payments. A component outlining who is responsible for interest accrued on receivables and payables with other clients. How information shared electronically between the parties would be stored and safeguarded. A clause in the agreement specifying that all inventory shipped by the client and delivered to customers would be on cash on delivery terms

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