Question 2 Not yet answered There is often a time lag between making a sale and receiving cash from the sale Select one: O True O False
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- There is often a time lag between making a sale and receiving cash from the sale Select One : a) True b) FalseMultiple choice: 1. The measure of how quickly an item can be converted into cash is referred to as A. Leverage B. Solvency C. Liquidity D. Profitablity 2. A customer bought goods from your business, on credit. The customer orally promised to pay the sale price next week. Which of the following accounts is increased and therefore debited? A. Cash B. Accounts Receivable C. Notes Receivable D. SalesThe cash cycle is longer than the operating cycle when Select one: a. Inventory period is positive b. Account receivable period is positive c. Account payable period is positive d. Receivable cannot be collected from customers e. None of the above answers is correct
- I don't understand two things in the answer. (1) Cash from operations in the purchase-on-account is 0. The reconciliation shows cash from operations (5000). That doesn't seem to be reconciled. (2) Why would cash from investing be (5000)? No cash was used yet, it's on account.If cash is collected at the sale:A.the operating cycle will be longer than if sold on creditB.the account payable will be decreased as a result of the saleC.the operating cycle will be shorter than if sold on creditD.the account receivable will be increased a a result of the saleAssume a company has a $350 credit (not cash) sale. How would the transaction appear if the business uses accrual accounting? A. $350 would show up on the balance sheet as a sale. B. $350 would show up on the income statement as a sale. C. $350 would show up on the statement of cash flows as a cash outflow. D. The transaction would not be reported because the cash was not exchanged.
- What is the effect on cash when current liabilities decrease? A. Cash increases by the same amount. B. Cash decreases by the same amount. C. Cash decreases by twice as much. D. Cash does not change.1. Payment of warehouse rent of AED 3000 is an example of; Group of answer choices Expenditure Capital Expenditure Revenue Expenditure Petty Cash If the transaction mentions “purchased office machinery for cash”, in this transaction cash will be…………. Group of answer choices None of the above Debited No impact on cash CreditedYou missed a section of the assignment. Record the journal entry for the sale of equipment to determine the cash effect of this transaction If ending cash on the SCF doesn't equal ending cash per the Balance Sheet, you've made a mistake somewhere. To find the error, recheck your work once, then redo the problem if you can't find your error. Use T accounts to analyze Investing Section (LT Assets) and Financing Section (LT Liabilities & Equity) for SCF Can you please provide the T accounts
- QB) Choose the correct answer: 5. Temporary accounts would not include: Select one: a. Depreciation expense. b. Salaries payable. c. Cost of goods sold. d. Supplies expense. 6. Operating cash outflows would include: Select one: a. Purchases of inventory b. Purchase of equipment. c. Purchase of investments. d. Repayment of bank loan.1. What should the company maintain to pay the bills as they come due? 2. Managing inventory is a juggling act. 3. Most businesses fail for lack of cash that for want of profit. Justify. not less than 5 sentenceCash paid for merchandise is an operating activity.Select one:a. FALSEb. TRUE
