1.How do you consider post-dated check in the statement of financial position? A.cash and cash equivalent B accounts receivable C accounts payable D cash in bank
1.How do you consider post-dated check in the
A.cash and cash equivalent
B
C accounts payable
D cash in bank
2.Which of the following describes accrual accounting?
A On September 20, the company record sales for the cash received from customers. Delivery of the items will be on October 5.
B On September 20, the company record utility expense for the Meralco bills. Payment will be made on due date October 5.
C On September 20, the company record sales for the items delivered and collected.
D On September 20, the company record rent expense for the rental paid for the current month.
3. Which of the following describes merchandise inventory?
A.Bought 5 cars for sale.
B.Bought 5 cars for delivery services.
C.Bought 5 cars for company's use.
D.Bought 5 cars for raffle.
4. Which of the following expenses is a result of association cause and effect method?
A.utility expense
B.
C.salaries expense
D. sales commission
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