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TB MC Qu. 2-86 (Static) Prepayments occur... Prepayments occur when: Multiple Choice sales are delayed pending credit approval. customers are unable to pay the full

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TB MC Qu. 2-86 (Static) Prepayments occur... Prepayments occur when: Multiple Choice sales are delayed pending credit approval. customers are unable to pay the full amount due when goods are delivered. cash payment occurs after the expense is incurred and liability is recorded. a cash flow precedes either expense or revenue recognition

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