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Which of the adhering to should be classified together an \"other\" receivable? A. Trade receivables B. Attention receivable C. Account receivable D. Notes receivable
What type of receivables result from sales transactions? A. Various other receivables B. Non-trade receivables C. Profession receivables D. Irreversible receivables
When is a receivable tape-recorded by a service organization? A. When the customer pays B. When company is detailed on account C. As soon as the related expenses are occurs D. When the invoice is sent to the customer
Receivables are reported ~ above the balance paper at the cash amount owed by customers. A. True B. False
Under the pin money method, the compose off of one account receivable leaves the net realizable value of the receivables unchanged. A. True B. False
At what value room accounts receivable reported on the balance sheet? A. Fair industry value B. Present value C. Cash (net) realizable worth D. Maturity value
When an uncollectible account is recovered after ~ it has actually been created off, which of the following accounts will be credited in the process? A. Pin money for doubtful Accounts and Cash B. Cash and also Account unification C. Account Receivable and also Allowance for hesitant Accounts D. Allowance for unconvinced Accounts and Bad debts Expense
Which among the adhering to statements is true? A. Poor Debts Expense and also Allowance for unconvinced Accounts room both in the name accounts and also are closed in ~ the finish of the fiscal period. B. Poor Debts Expense and Allowance for hesitant Accounts space both real accounts and neither are closed in ~ the end of the budget period. C. Negative Debts expense is a nominal account and is closed at the finish of the budget period, while allowance for unconvinced Accounts is a genuine account and also remains open up at the end of the fiscal period. D. Bad Debts expense is a genuine account and remains open up at the finish of the fiscal period, while allowance for doubtful Accounts is a nominal account and also is closed in ~ the end of the budget period.
C. Poor Debts expense is a nominal account and also is closed at the finish of the budget period, while pin money for unconvinced Accounts is a real account and remains open up at the finish of the fiscal period.
Which among the adhering to is part of the transaction that is recorded as soon as an account is composed off under the allowance method? A. Bad Debts expense account is debited. B. Account Receivable account is debited. C. Pin money for doubtful Accounts is debited. D. Loss on account Receivable account is debited.
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