Accounts Receivable, Finance And Accounting

Question: Bad debts are generally______
A
subtracted from Accounts Receivable

B
added to Accounts Receivable

C
not related to Accounts Receivable

D
None of these

Note: answer not sure
1. Report
Question: Increasing the credit period from 30 to 60 days in response to a similar action taken by all the competitors of a firm will result in:
A
an increase in the average collection period.

B
a decrease in bad debt losses

C
an increase in sales.

D
a higher profit

Note: answer not sure
1. Report
Question: Advances received from the customers are shown_______
A
in the Profit & Loss Account

B
on the Asset side of the balance sheet

C
on the Liability side of the balance sheet

D
in both the P&L account and the balance sheet

Note: answer not sure
1. Report
Question: Which two of the following key attributes of a quotation promote excellent receivable results? 1.Feasibility/ deliverability of the offer 2.Payment terms 3.Clear commercial terms and conditions agreed upon by both the parties. 4.Applicable sales (or) use tax
A
1&2

B
2&3

C
1&3

D
None of these

Note: answer not sure
1. Report
Question: Allowance for doubtful accounts is ________
A
the total of the accounts that will not be collected

B
a contingent liability

C
a contra-owner's equity account like withdrawals

D
the estimated amount of Accounts Receivable that will not be collected

Note: answer not sure
1. Report
Question: Companies that do not carry enough inventory will incur _______
A
lost sales

B
low employee morale

C
worker layoffs

D
All of these

Note: answer not sure
1. Report
Question: Financial Statement ratio analysis may be undertaken to study liquidity, turnover, profitability, and other indicators. The current ratio indicates ___________________
A
liquidity

B
turnover

C
profitability

D
other indicators

Note: answer not sure
1. Report
Question: Use the following information to compute interest revenue. Notes receivable $10,000, due in 90 days with interest at 10%.
A
$1,000

B
$200

C
$246.58

D
None of these

Note: answer not sure
1. Report
Question: The net realizable value of Accounts Receivable is__________.
A
the total of the Individual accounts in the subsidiary ledger

B
Accounts Receivable minus allowance for Doubtful Accounts

C
Accounts Receivable minus Bad Debts Expense

D
the estimated amount of the accounts that will not be collected

Note: answer not sure
1. Report
Question: When a note receivable is dishonored, for which amount is Accounts Receivable debited?
A
The maturity value of the note plus accrued interest

B
The maturity value of the note

C
The face value of the note

D
The maturity value of the note less accrued interest

Note: answer not sure
1. Report

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Question: Bad debts are generally______

Question: Increasing the credit period from 30 to 60 days in response to a similar action taken by all the competitors of a firm will result in:

Question: Advances received from the customers are shown_______

Question: Which two of the following key attributes of a quotation promote excellent receivable results? 1.Feasibility/ deliverability of the offer 2.Payment terms 3.Clear commercial terms and conditions agreed upon by both the parties. 4.Applicable sales (or) use tax

Question: Allowance for doubtful accounts is ________

Question: Companies that do not carry enough inventory will incur _______

Question: Financial Statement ratio analysis may be undertaken to study liquidity, turnover, profitability, and other indicators. The current ratio indicates ___________________

Question: Use the following information to compute interest revenue. Notes receivable $10,000, due in 90 days with interest at 10%.

Question: The net realizable value of Accounts Receivable is__________.

Question: When a note receivable is dishonored, for which amount is Accounts Receivable debited?