Quiz – Accounts Receivable
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Which of following does not reduce balance of the accounts receivable?
Which of following does not reduce balance of the accounts receivable?
Which of following does not reduce balance of the accounts receivable?
Which is not a potential benefit of accrual accounting, compared to cash-basis accounting?
They ask you to determine where you would search in order to find the interest rate needed to accomplish their goal.
Your numbers will vary.
How should the company record the purchase?
Your numbers will vary.
What should not be included in the acquisition costs of property, plant, and equipment (PPE)?
They give you the amount borrowed along with information on an installment note and ask you to determine the amount of installment payment.
Your numbers will vary.
Which is not an adjusting entry?
Given the sale of fax machines along with the terms, they ask you to prepare a journal entry for the sale and record the receipt of the payment.
Your numbers will vary.
Making insurance payments in advance would be an example of what: