QUESTION 42 Which of the following accounts are not major accounts in the acquisition and payment cycle? a. Cash b. Accounts payable C. Sales returns and allowances d. Inventory QUESTION 43 Which of the following is not an inherent risk related to inventory? a. Sales contracts may contain unusual terms, and revenue recognition is often complex b. Inventory accounts typically experience a high volume of activity C. Identifying obsolete inventory and applying the lower of cost or market principle to determine valuation are difficult d. Inventory accounts may be valued according to various accounting valuation methods and is easily transportable Click Save and Submit to save and submit. Click Save All Answers to save all answers