Which of the following is NOT true about accounting for merchandise returns? Multiple Choice Returned...
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Accounting
Which of the following is NOT true about accounting for merchandise returns? Multiple Choice Returned inventory also must be accounted for when considering sales returns. Accounting for sales returns ensures that net revenue excludes sales of goods that are expected to be returned. By the end of the accounting period, a refund liability is established for the amount of returns that the company estimates will occur in The refund liability is credited when a customer makes a return 
Which of the following is NOT true about accounting for merchandise returns?
Multiple Choice
Returned inventory also must be accounted for when considering sales returns.
Accounting for sales returns ensures that net revenue excludes sales of goods that are expected to be returned.
By the end of the accounting period, a refund liability is established for the amount of returns that the company estimates will occur in
The refund liability is credited when a customer makes a return
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