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tps/keiseruniversity blackboard.com/webapps/assessment/take/launch jsp?course assessment id-,501534.18course id- 4 Final Exa × 11 Favorites Tools Help studies.adu.den... https-ecf.flmb.circ11 (3) https--ecf.fimb.cire11 (2) https-ecf.flmb.circ11 Middle District e Question 12 All of the following statements regarding sales returns and allowances are true except O Sales Refund Payable is a current liability account O Sales returns and allowances estimates are typically made as period-end adjustments O The Inventory Returns Estimated account is a current liability account O When sales returns and allowances adjustments are made to sales, an estimate must also be made for the cost side O New revenue recognition rules require sellers to report sales net of expected returns and allowances for annual periods Question 13

Explanation / Answer

The following statement is not true:-

The inventory returns estimated account is a current liability account.

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