When a deposit on returnable containers is forfeited, the firm holding the deposit will experience: A. a decrease in cost of goods sold. B. an increase in current liabilities. C. an increase in account receivable. D. an increase in revenue.
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When a deposit on returnable containers is forfeited, the firm holding the deposit will experience:
A. |
a decrease in cost of goods sold. |
|
B. |
an increase in current liabilities. |
|
C. |
an increase in |
|
D. |
an increase in revenue. |
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- Which one of the following statements is true if a company's collection period for accounts receivable is unacceptably long? a.The company may need to borrow to acquire operating cash. b.The company should expand operations with its excess cash. c.Cash flows from operations may be higher than expected for the company's sales. d.The company may offer trade discounts to lengthen the collection period.Which of the following is a positive sign that a company can quickly turn its receivables into cash? a. A low receivables turnover ratio.b. A high receivables turnover ratio.c. A low average collection period.d. Both a high receivables turnover ratio and a low average collection period.Question Which of the following changes in credit standards and conditions would cause an improvement in profit? A) An increase in the percentage of doubtful collections. B) An increase in collection expenses. C) Decrease in units sold D) Increase in the turnover of accounts receivable.
- These are the selected anaswer provide to select accordingly towards the cash statement: decrease in accounts payable, decrease in accounts receivable, decrease in inventory, decrease in prepaid insurance, decrease in salaries payable, depreciation expense, gain on sale of available for sale debt securities, gain on sale of equipment, increase in accounts payable, increase in account receivable, increase in inventory, increase in prepaid insurance, increase in salaries payable, loss of sale of available for slae securities, loss of sale of equipment, payment of cash dividends, payment of notes payable, purchase of equipment, sale of available for sale debt securities, sale of bonds payable, sale of equipment/ With these selection please out them into their designed areas to changes in oprerating assests and liabilities, cash flows from investing activities, cash flow from financing activities.Which of the following increases the reported receivables in the financial statements? offsetting a credit balance in an account receivable a credit balance in an account payable adjustment to eliminate a debit balance in accounts payable a credit balance in an allowance account Short-term receivables including non-trade receivables that are currently collectible may not be discounted to their present values because their face values are normally immaterial. they are so near their maturity dates that their values do not change. present value computation is very complex. the effect of discounting may be immaterial Which of the following statements is incorrect concerning the expected credit loss model of PFRS 9? The expected credit loss model applies to all financial instruments within the scope of PFRS 9, debt and equity alike. A credit loss may be recognized on the initial recognition of a debt instrument. The measurement of loss allowance is the same in…Which of the following adjustments would NOT be made to net income when computing cash from operating activities? a.add an increase in Accrued Interest Payable b.deduct the purchase of store equipment c.add the reduction in Accounts Receivable d.add the decrease in Merchandise Inventory
- Which of the following would be classified as a use of cash? a. An increase in depreciation. b. A decrease in accounts receivable. c. A decrease in accruals. d. Both decrease in accounts receivable & decrease in accruals e. All of theseWhen using the allowance method for accounting for bad debts, accounts receivable is reported on the balance sheet at the expected net realizable value. When a particular receivable from a customer ultimately is determined to be uncollectible and is written off, the recording of this event will Group of answer choices A)decrease the net realizable value of the accounts receivable. B)have an effect that is not determinable from the information given. C)increase the net realizable value of the accounts receivable. D)decrease total current assets. e)None of the aboveWhich of the following statements about receivables turnover is false? Receivables turnover measures the efficiency of the firm in managing and selling inventory Receivables turnover measures the liquidity of the firm's receivables Receivables turnover is calculated with revenue in the numerator A low receivables turnover indicates efficient receivables management
- How can the company reduce the level of uncollectible accounts and increase the likelihood that accounts receivable will be paid on time?Question Which of the following changes in credit standards and conditions would cause an improvement in profit? A) Increase in the turnover of accounts receivable B) Decrease in units sold C) Increase in collection expenses D) An increase in the percentage of doubtful accounts receivable.Which of the following would indicate a cash payment? a. An increase in prepaid expenses b. Selling equipment at a loss c. A decrease in inventory d. A decrease in accounts receivable