Finance And Accounting

Question: A check issued by you, but not yet passed through the banking system, is:
A
an outstanding check

B
a credit transfer

C
a dishonored check

D
a standing order

Note: Not available
1. Report
Question: Documents used to control a bank account include the following except
A
a bank statement

B
electronic funds transfer (EFT)

C
prenumbered checks

D
a signature card

Note: Not available
1. Report
Question: Account books are typically closed on a _________ basis.
A
Weekly

B
Monthly

C
Quarterly

D
Yearly

Note: Not available
1. Report
Question: Retained earnings will change over time because of several factors. Which of the following factors would explain an increase in them (Retained Earnings)?
A
Net loss.

B
Net income.

C
Dividends.

D
Investments by stockholders.

Note: Not available
1. Report
Question: A multiple-step income statement is thought to be more beneficial to financial users because of the revelation of important relationships. Which of the following is not separately identified in a multiple-step income statement?
A
Gross profit

B
Net income

C
Income taxes

D
Total costs and expenses

Note: Not available
1. Report
Question: Accounts payable refer to the current
A
Liability of a business or an organization

B
Asset of a business or an organization

C
Expense of a business or organization

D
Income of a business or organization

Note: Not available
1. Report
Question: The correct journal entry to reconcile an NSF check returned by the bank is:
A
Debit Accounts Receivable, Credit NSF

B
Debit Cash, Credit Accounts Receivable

C
Debit NSF Expense, Credit Cash

D
Debit Accounts Receivable, Credit Cash

Note: answer not sure
1. Report
Question: Trade accounts receivable:
A
arise from the sale of a company's products or services.

B
are reported in the non-current asset section of the balance sheet.

C
include deposits with utilities

D
generally comprise the minority of the total receivables balance.

Note: answer not sure
1. Report
Question: Which of the following is a liability?
A
Creditors for Goods

B
Machinery

C
Cash at Bank

D
Motor Vehicles

Note: answer not sure
1. Report
Question: Refer to the given image: Hefty Co. wants to know the effect of different inventory methods on financial statements. Given below is information about beginning inventory and purchases for the current year. Sales during the year were 2,700 units at $5.00. If Hefty used the periodic LIFO method, cost of goods sold would be:
A
$2,780

B
$3,960

C
$9,700

D
$10,880

Note: answer not sure
1. Report

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Question: A check issued by you, but not yet passed through the banking system, is:

Question: Documents used to control a bank account include the following except

Question: Account books are typically closed on a _________ basis.

Question: Retained earnings will change over time because of several factors. Which of the following factors would explain an increase in them (Retained Earnings)?

Question: A multiple-step income statement is thought to be more beneficial to financial users because of the revelation of important relationships. Which of the following is not separately identified in a multiple-step income statement?

Question: Accounts payable refer to the current

Question: The correct journal entry to reconcile an NSF check returned by the bank is:

Question: Trade accounts receivable:

Question: Which of the following is a liability?