Unless otherwise stated, financial transactions assume the compounding frequency is greater than the payment frequency. Group of answer choices True False

Q: A customer of Triple D can also be a supplier to Triple D and then, if the creditor’s amount is more…

A: A creditor is the entity to whom the company owes money whereas a debtor is an entity who owes money…

Q: If the credit to record the payment of an account payable is not posted,a. cash will be…

A: The correct option is option “a”. a. cash will be overstated.

Q: Unearned Service Revenues are revenues with Credit as a normal balance O True O False

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: Accounts payable and accrued liabilities are interchangeable account titles.

A: Accounts payable: accounts payable is the amount that have to be paid to the supplier of goods or…

Q: Receivables are amounts due from others that arise from the sale of goods or services. Select one:…

A: Accounts receivables represents the amount due to firm for the goods or services sold on credit.…

Q: True (t) or False (f) ____ The matching principle states that debits mus equal credits in each…

A: Matching concept follows the accrual accounting concept of business.

Q: TRUE or FALSE. Under casual factoring, the difference between the carrying value of the accounts…

A: Factoring is technique of selling yours accounts receivable to a bank or financial institutions at a…

Q: Which statement is false?  a. The amount of Accounts Receivable pledged should be excluded from…

A: Accounts receivables:-Accounts receivables includes the balance which is due to firm on the goods…

Q: e traditional 4 C’s of credit analysis, which is the ability of a company to make payments on time?…

A: 4Cs of credit are Collateral, Covenant, Capacity and character.

Q: A credit of a debt account can in the case of the counter-accounting (debiting) involve a booking of…

A: Debt refers to the amount that is due to be paid to the outsiders. The debt can be recorded as…

Q: S1: The initial measurement under PFRS 17, is the sum of the fulfillment cash flows and the…

A: IFRS 17:-It is the standard which deals which insurance contract, here it make sure that entity…

Q: If the current ratio is 2 to 1, the receipt of a payment for an account receivable will Group of…

A: Receipt of payment from an account receivable will decrease the account receivable balance and…

Q: A debit balance in which of the following accounts would indicate a likely error? a.Notes Payable…

A: Normally all assets and expense accounts in the business have debit balances. All liabilities,…

Q: Net Income is calculated as follows: NI = NII – Burden - PL + SG-T Where, bank burden (non-interest…

A: Formula: NI = NII - Burden - PL - + SG - T NI stands for Net Income.

Q: Which of the following is the account where the increases are recorded to the receivable side and…

A: Company sell products on credit and these selling create customers on credit so these are to be…

Q: If cash is received from a customer in the current period, but the related performance obligation is…

A: Accounting principles are general guidelines that are used by the accountant in preparing the…

Q: Typically, the estimated amount available for short-term payments in a statement of affairs…

A: Statement of accounts: It is the periodic statements summarizing all the account activity of the…

Q: Which of the following is not a pervasive expense recognition principle? a. immediate recognition…

A: Option C - Cash Payment is not a pervasive expense recognition principle.

Q: Which one of the following best describes the allowance for doubtful accounts? a.Statement of…

A: Allowance for doubtful debt is created for the accounts receivables whose recovery is uncertain. It…

Q: Which one of the following statements is NOT true about account receivables? Select one: a. Account…

A: Accounts receivable: if sale is made on cash the supplier immediately collects the cash and no…

Q: The net figure for accounts receivable (debtors) after deducting the allowance for uncollectible…

A: Accounts receivables are those customer accounts to whom business has made credit sales on account…

Q: These are those which do not give rise to a right to receive (or an obligation to deliver) a fixed…

A: As per IAS 21, Effects of changes in foreign exchange rates, the monetary items are those items that…

Q: What is an account receivable? O a. Sales O b. Asset O c. Income O d. Creditors

A: Following is the answer to the given question

Q: The internal rate of return method provides a rate of return that approximates:   Both the…

A: The internal rate of return shows the estimated rate of growth in a year from the particular…

Q: Receiving payments on an account receivable increases both equity and assets. True False

A: Cash is asset and accounts recivable is an asset.

Q: Short answer Which is more relevant to an investor; Accounts Receivable or Accounts Receivable, Net?…

A: Investors are an important class of stakeholders for every company. The contribute to the…

Q: The direct write-off method requires estimates of: *       (a) Uncollectible accounts expense…

A: Direct write off method means where bad debts is written off when it actually occus. No estimates is…

Q: Which of the following is a contra-liability account? a. Notes Payable b. Discount on Notes Payable…

A: Contra liability refers to a liability which is debited for the purpose of offsetting the credit of…

Q: TRUE OR FALSE? The debit balances in suppliers' accounts should be netted against accounts payable.

A: Accounts payable is the amount owed by the business entity towards the suppliers in respect of the…

Q: The timing of income from services can often be controlled through the use of: a.U.S. GAAP…

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

Q: Which of the following is true regarding 'Credit Balance' in ledger account? O a. All options are…

A: Option d is correct.

Q: Indicate whether each statement best describes the allowance (A) method or the direct write-off…

A: Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts…

Q: TRUE OR FALSE. If assignment of receivables is made under a notification basis, the company, the…

A: Assignment of accounts receivable is a loan agreement in which the borrower assigns the lender to…

Q: what is the expense account for provision for non - collection from customers. * bad debt expense O…

A: The cost of operations that a firm incurs in order to earn revenue is referred to as an expense.…

Q: Which of the following transaction costs will not be included in the pro-forma adjustment to net…

A: Net earnings are the net income or loss being generated by the business. Proforma adjustment to net…

Q: In which of the following types of accounts are increases recorded by credits?   Question 8 options:…

A:

Q: With credit tranching, the subordinated tranches may absorb credit losses as they occur.   Select…

A: Credit Tranching:- It is a system which is generally used by the international monetary funds. under…

Q: The purchase of good on credit require: O A. Amount of payment O B. Timing of payment O C. Credit…

A: Purchase of goods means when goods are bought or purchased from some other party. These goods can be…

Q: TRUE OR FALSE? 1. Valuation accounts also known as contra accounts or valuation reserve are neither…

A: Contra accounts are the accounts which are used to offset the balance of asset or liability…

Q: Debit interest payments are added to revenue but subtracted from outlays. Select one: True False

A: Since you have posted multiple questions, we will do the first one for you. To get the other…

Q: What is the normal balance of accounts payable? Group of answer choices debit either debit or credit…

A: Solution: Accounts payable are liabilities due to purchase of merchandise or services on account.…

Q: Which among the statements is not correct?  a. Net realizable value of accounts receivable results…

A: Account receivable means the amount due from customer whom we sold the goods on credit. Allowance…

Q: Diffrence between debit and credit ?

A: Debit and credit are two sides of general ledger account. For some accounts, debit means increase…

Q: The payment of supplier’s account is debited to accounts receivable. What is the effect of the error…

A: The Account Receivables are assets for the firm and Account Payables are liability for the firm. The…

Q: _____ is the example of Liabilities.     Sales     Supplies in Hand     Account Receivables…

A: The Question has covered the concept of Liabilities. Liability means which have an obligation to…