Short-term commercial bank loans can be used to finance inventory and accounts receivable. TRUE OR FALSE

Q: Question 34 Which of the following is NOT an example of a source document? O Sales invoice O Journal…

A: Since there are multiple questions posted we will answer the first question for you as per the…

Q: QS 6-3 Cash and equivalents LO C2 Choose from the following list of terms and phrases to best…

A: Financial Accounting is the one branch of accounting where financial transactions including regular…

Q: Question 5 Authorised deposit-taking institutions are institutions that are approved by APRA to O…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: TRUE OR FALSE: IA RECEIVABLE FINANCING 22. If a customer's note is discounted without recourse, the…

A: Solution Note receivable is a written document in terms and conditions mentioned about the specified…

Q: Question 15 Which of the following answers was not one of the lending rules proposed by Walter…

A: Walter Bagehot was a British journalist, businessman. He wrote extensively about economics and…

Q: Which of the following is not considered a financial asset? Petty Cash Fund Investment in debt…

A: The question is based on the concept of Accounting theory.

Q: 44. Which statement correctly identifies the loan type with its function? O (a) FHA guarantees loans…

A: A loan is defined as the financial term, where the funds or money is given to some other party in…

Q: Question 1: Why do we need to estimate doubtful accounts? Question 2: Which is better to have?…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 13- Banks advance loans to its customers up to a certain amount, if there are no deposits in the…

A: Banks provide many facilities to banks for doing business and running of business.

Q: Q 2: Describe how companies value accounts receivable record their disposition and what is the…

A: ‘’Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Question 38 It is filled out when money is withdrawn from the bank account. O withdrawal slip O…

A: The deposits and withdrawals are made from bank using various documents.

Q: Which of the following method is used by the companies to finance their receivables from slow paying…

A: There are various short term sources of finance

Q: To conceal theft of receivables a dishonest bookkeeper might charge which of the following accounts?…

A: To conceal a theft of receivables, a dishonest bookkeeper might charge sales return account. This…

Q: Question:1  Briefly explain the following: a) Importance of Bank Reconciliation statement and what…

A: Sales discount is offered by the business in order to collect the cash payment from the buyer. Under…

Q: The entry to record the dishonor of a note receivable assuming the payee expects eventual collection…

A: Introduction:- A note receivable is a written promise to receive a determined amount of cash from…

Q: Savings accounts are usually classified as cash on the balance sheet.

A: Cash and Bank account Cash account is an account in balance sheet as a current asset and it shows…

Q: _______________ 5. The interest on a non-interest bearing note is equal to its discount amount.…

A: The interest on a non-interest-bearing note is equal to its excess of the face value over the…

Q: Joe discounted a bill of exchange face value OMR 6,000 with the bank, and bank charged a discount of…

A: Total cash paid = Face value of bill - discount amount = OMR 6,000 - OMR 300 = OMR 5,700

Q: Q 9. What is the benefit of a regulatory guarantee or deposit insurance program for depositors of…

A: Regulatory gurantee or deposit insurance program for depositors protects individual banks from bank…

Q: The process of selling a promissory note to a bank at any time before maturity is known as _____ a…

A: Promissory Note: It is a kind of financial instrument that comprises a written commitment made by…

Q: Which type of short-term loan is secured with Treasury bills as collateral?   A. Federal funds…

A: A Treasury Bill  A Treasury Bill is also known as a T-Bill. It is a short-term borrowing instrument…

Q: Money at call and short notice is an ……………… of the banking company.

A: Money-at-call refers to any kinds of short interest-bearing loans that the customer must repay…

Q: When accounts receivable is factored, the accounts payable shall be credited. True or False?

A: (4)  Factoring of accounts receivable represents that the invoice is sold to a third party. The…

Q: Compile the bank reconciliation statement as at 31 January 2020

A: Bank Reconciliation Statement: Bank reconciliation statement is generated by the customer of a…

Q: 37- Promissory notes are not used in one of the following situation a. When the business borrows…

A: Promissory notes - Promissory Notes is the promise to pay a certain sum of money to the lender. It…

Q: 8. Commercial papers are money market instruments. Also called clean loans. Is this true or false?…

A: Money market: It implies to a short term market form that deals or trade in short term lending…

Q: # 45 A type of short-term loan where the borrower sells its accounts receivables to the lender at a…

A: A bond refers to a financial instrument issued by the companies which contains fixed coupon rate on…

Q: Question 1e A bank finds that its assets are not matched with its liabilities. It is taking…

A: SWAP comes with a notional principal, this is not exchanged in case of plain -vanilla SWAPS.

Q: When credit card sales occur, the seller may receive cash immediately, or within a few days,…

A: The given statement is true.

Q: Q. 4 Prepare a Bank Reconciliation Statement as on 31t December 2019 from the following particulars:…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: Item 33 of 50 The principal advantage of using commercial paper as a short-term financing instrument…

A: Short-Term finance refers to arranging funds for business purpose for fulfilling requirement that…

Q: Question 11 of 30 In case of the party pays the money or not. the bank has to pay the money on due…

A: A bank guarantee is a promise that is made by the bank on the behalf of its customer to the clients…

Q: 6.4 Differentiate between Different Types of Consumer Lender Loan products Significant features They…

A: A commercial bank is a type of financial institution that conducts all public deposit and withdrawal…