Question An example of an account that can NOT have an exceptional balance is: O An A/R Account A Bank Account O An Equipment Account An A/P Account

Q: Which of the following have high return and low Liquidity? a. demand deposit account b. saving…

A: Account is referred as the record or an arrangement through which a customer’s financial assets are…

Q: What are some common types of receivables other than accounts receivable and notes receivable?

A: Receivables are the amount due to be received in future such as accounts receivable, notes…

Q: Cash received from loans is a deposit other than customer payments. Group of answer choices True…

A: Cash received from the loan is considered as the current liabilities with the name of deposits.

Q: Which is better to have? Accounts receivable or notes receivable? And why?

A: Accounts receivable are current assets which represent amounts to be collected from customers for…

Q: How to prepare bad debts account

A: Bad debts are those account receivables for whom it is estimated that amount due will not be…

Q: What exactly is a real account?

A: There are basically three account types in accounting, that are real account, nominal account and…

Q: What is the difference between a nominal account and a real account?

A: The various accounts in the business are classified as personal accounts, real accounts, and nominal…

Q: Identify which one of the following is also called as Fixed deposit account? a. Demand deposit b.…

A: Fixed deposit accounts are fixed deposit accounts have fixed MATURITY period and can be withdrawn…

Q: what is stale checks in accounting

A: Introduction: Banks: Banks accepts deposits from the public and gives loans to the needy people or…

Q: accounts are not transferrec to Realization Account? O a. Bank overdraft O b. Reserve fund O c.…

A: Option D is the correct Answer i.e All Options are Correct.

Q: True (t) or False (f) ______ Notes receivable are generally reported as noncurrent assets.

A: Generally, Notes receivable are expected to be matured within 12 months. Therefore, notes…

Q: Question 10 of 18 Which of the following increases the reported receivables in the financial…

A: Financial Statements are the statements presented to provide the information about the company’s…

Q: A note payable can be used to extend the payment due on an account payable. O True O False

A: Solution: A notes payable is used for financing,  it indicates the money owed by issuer.  By issuing…

Q: What is the difference between a nominal account and a real account?

A: A nominal account records accounting transactions for a single fiscal year. Accounting transaction…

Q: What is the difference between a nominal account and a real account?

A: There are three types of accounts in financial statements, Real Account Personal Account Nominal…

Q: TRUE OR FALSE? Allowance for doubtful accounts will never have a debit balance.

A: Allowance for doubtful accounts is maintained for making provision for those where the debtors are…

Q: In what way do accounts receivables and accounts payables differ from each other

A: Solution: Accounts receivables represent amount owed by customer for merchandise sold by business.…

Q: The credit memoranda creates a(n) __ in the accounts receivable file of a customer. A. note…

A: Accounting is the process of documenting a business's financial transactions. These transactions are…

Q: true or false  Asset accounts normally have a credit balance

A: Assets are debited when increased and credited when decreased. So the balance remains at the end…

Q: How does assignment of accounts receivable differ from factoring?

A: Financial Management  Financial management is the area of business concerned with allocating the…

Q: What is the term used to describe the amount of accounts receivable that is actually expected to be…

A: A. The present value of accounts receivable is the amount of accounts receivable discounted to its…

Q: True or False? Give a reason for your answer.  Q.1.1.1 Direct deposits are an  example of an…

A: These are the differences arise in the process of bank reconciliation. These differences would be…

Q: Which one of the following statements is NOT true about account receivables? Select one: a. Account…

A: Accounts receivable: if sale is made on cash the supplier immediately collects the cash and no…

Q: From page 5-3 of the VLN, what is the appropriate relationship to compute net accounts receivable?…

A: Customers who have received goods or services from a business but haven't yet made payment are said…

Q: The notes receivable is debited by the bookkeeper instead of accounts receivable. What is the effect…

A: The assets have the debit balance and liabilities have the credit balance. Every transaction in the…

Q: Why could cash be falling in a set of accounts?

A: Cash can fall in a set of accounts for a variety of reasons. These include making large purchases,…

Q: What is the difference between a nominal account and a real account?

A: Nominal Account: These are the accounts that pertain to Incomes (or Revenues) and Expenses. Thus,…

Q: Short answer Which is more relevant to an investor; Accounts Receivable or Accounts Receivable, Net?…

A: Investors are an important class of stakeholders for every company. The contribute to the…

Q: Savings accounts are usually classified as cash on the balance sheet.

A: Cash and Bank account Cash account is an account in balance sheet as a current asset and it shows…

Q: (I) WHAT ARE THE BANK RECONCILING ITEMS? DESCRIBE EACH.   DECRIBE IN A SHORT WAY. NO NEED LONG…

A: Answer:-  Bank reconciliation:- An entity's bank account and its financial records are compared in a…

Q: What makes a nominal account different from a real one?

A: SOLUTION ACCOUNTING CYCLE IS A COLLECTIVE PROCESS OF IDENTIFYING , ANALYZING AND RECORDING THE…

Q: Which of the following is true regarding 'Credit Balance' in ledger account? O a. All options are…

A: Option d is correct.

Q: how is credit check in advance technology is different from credit check in basic technology

A:

Q: Which of the following is a type of off-Balance Sheet activity? a. A demand loan. b. A Letter of…

A: Introduction:- Off-balance sheet  refer to activities that are effectively assets or liabilities of…

Q: An expense account normally has a credit balance. True or False

A: Expense Account - It includes day-to-day costs that are incurred in a normal course of business. For…

Q: credit side of a bank account is greater than debit side, it indicates: A. Bank overdraft B. Cash at…

A: The balance sheet represents the financial position of the business with assets and liabilities on a…

Q: Which of the following items is not classified as an asset?  Accounts receivable Accounts payable…

A: Assets: a. Based on convertibility  :  current assets , Non current assets . b. Based on physical…

Q: Balance Sheet accounts are not considered real accounts. True O False Jr

A: Balance sheet is also known as statement  of financial position. This shows all assets, liabilities…

Q: True (t) or False (f) ______ Savings accounts are usually classified as cash on the balance sheet.

A: Savings accounts are considered as cash equivalents item such as easily convertible into cash.

Q: What does it mean when Drawings has a normal debit balance or a normal credit balance? Please…

A: Meaning of Drawings:- In accounting, the term "Drawings" refers to the withdrawals made by the owner…

Q: The total credit equal to the total of debit in ledger account is called: O a. Credit balance O b.…

A: The ledger is prepared using journal entries.

Q: Question 9 consist of noninterest-bearing demand deposits and interest-bearing checking accounts. O…

A: The correct option with explanation are as follows

Q: uncollectable accounts recognized

A: The term Receivables refers to the amount of debts owed to a firm by its customers for goods or…