What could happen if a business spent the cash it received in advance for services it promised

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What could happen if a business spent the cash it received in advance for services it promised to perform at a later date?

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College Accounting

ISBN: 978-1111528126

11th edition

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

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Question Posted: Oct 21, 2014 02:28 AM

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What could happen if a business spent the cash it received in advance for services it promised

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Nothing if the business has the funds necessary to perform the services promised when th...View the full answer

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