Accounts Receivable and Correct Marks

1036 WordsDec 21, 20105 Pages
1 Marks: 5 Which of the following events involves an accrual? Choose one answer. | a. Recording interest that has been earned but not received | | | b. Recording supplies that have been purchased with cash but not yet used. | | | c. Recording revenue that has been earned but not yet collected in cash. | | | d. A. and C. | | Correct Marks for this submission: 5/5. Question 2 Marks: 5 Which resource provider typically receives first priority when resources are divided as part of a business 's liquidation? Choose one answer. | a. stockholders | | | b. owners | | | c. the company 's managers | | | d. creditors | | Correct Marks for this submission: 5/5. Question 3 Marks: 5 Which of…show more content…
| | | c. Allowance for doubtful accounts. | | | d. The present value of accounts receivable. | | Correct Marks for this submission: 5/5. Question 3 Marks: 5 The practice of reporting the net realizable value of receivables in the financial statements is commonly called: Choose one answer. | a. the cash flow method of accounting for bad debts. | | | b. the direct write-off method of accounting for bad debts. | | | c. the allowance method of accounting for bad debts. | | | d. Both a and b are correct. | | Correct Marks for this submission: 5/5. Question 4 Marks: 5 What does the accounts receivable turnover ratio measure? Choose one answer. | a. How quickly the accounts receivable balance increases. | | | b. How quickly inventory turns into accounts receivable. | | | c. How quickly accounts receivable turn into cash. | | | d. Average balance of accounts receivables. | | Correct Marks for this submission: 5/5. Question 5 Marks: 5 Which of the following businesses would most likely have the longest operating cycle? Choose one answer. | a. A national pharmacy chain. | | | b. A discount store. | | | c. A producer of wine. | | | d. A chain of pizza restaurants. | | Incorrect Marks for this submission: 0/5. 1 Marks: 5 What is the name used for the type of secured bond that requires a pledge of a designated piece of property in case of default? Choose

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