Quiz Ch 04 – Transactions Requiring Journal Entry
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Which transactions require a journal entry?
Which transactions require a journal entry?
What assumptions can be made about Tri-C Corp. when comparing its ratios to industry averages, where it has a higher current ratio, an average quick ratio, and a lower inventory turnover?
What is the approximate average debt ratio for most real estate investment trusts (REITs)?
What are the characteristics of a company’s petty cash fund?
What is the purpose and management of a petty cash fund?
Which of the following is true when preparing a bank reconciliation?
What is the best term to describe the $282.15 that Lester earned in interest this year, considering that it includes both the interest on his original investment and the interest on his prior interest earnings?
What is the term for deposits that have been recorded on a company’s books but not yet on the bank’s books?
What do efficiency ratios encompass?
What is true about the need for external financing?