QUIZ #2 - CH. 5 - 8 PG 142 - 330 Flashcards
Interest Receivable is frequently combined with _______ in the balance sheet for reporting purposes.
A. working capital
B. Uncollectables
C. Customer expense
D. Dotes Receivable
D. Notes Receivable - A formal document (usually interest bearing) that supports the financial claim of one entity against another
Which of the following do retained earnings represent
A. Net income that has been reinvested in the company
B. The total net income of the firm since its beginning
C. Net income plus gains (or minus losses) on treasury stock transactions
D. Cash that’s available for dividends
A. Net income that has been reinvested in the company
The allowance for uncollectible accounts is a/an
A. Contra revenue
B. Debt
C. Expense
D. Contra asset
D. Contra Asset
What are the following is one of the two generally at just methods for electing corporate directors?
A. Cumulative voting
B. Representative voting
C. Democratic voting
D. Census voting
A. Cumulative voting
Which inventory Accounting Systems has been made much more feasible as a result of Computer System developments?
A. Periodic
B. Physical
C. perpetual
D. Just in time
C. Perpetual
