Page 13 - CHAPTER 10 - THE REVENUE AND RECEIPTS CYCLE

REVENUE AND RECEIPTS CYCLE

GOODS RETURNED BY THE CUSTOMER

• The description and quantity of goods returned

may not be accurate resulting in incorrect

credit notes being passed.

• A credit note may be passed for goods that

may not have been returned.

• Credit notes may be inaccurately recorded and

credited to the incorrect debtor.

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