Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Q4:
COMPLETION STATEMENTS
1.
Notes and accounts receivable that result from sales
transactions are often called
receivables.
Two accounting problems associated with accounts
and (2)
2.
receivable are (1)
accounts receivable.
3.
The net amount expected to be collected in cash from
receivables is the
4.
When credit sales are made,
Expense is considered a normal and necessary risk of doing
business on a credit basis.
The two methods used in accounting for uncollectible
the
5.
the
method.
accounts
are
method
and
6.
Allowance for Doubtful Accounts is a
account which is
from
Accounts Receivable on the balance sheet.
7.
When the allowance method is used to account for
uncollectible accounts,
is debited when an
account is determined to be uncollectible.
estimating
uncollectibles normally results in the best approximation of
8.
The
basis
of
value.
9.
A 75-day note receivable dated July 5 would mature on
10.
Collection of a note receivable will result in a credit to
for the face value of the note and a credit to
11.
A note that is not paid on the maturity date is said to be
A concentration of
is a threat of
nonpayment from a single customer or class of customers.
12.
Ratios used to assess the liquidity of accounts
and
13.
receivable are
14.
A finance company or bank that purchases receivables
from businesses is known as a
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