Which among the following are transactions that are settled by immediate cash payment and cash receipts. a. credit transactions b. cash transactions c. accounts d. financial statements What is the amount to be collected by the business from customer who receive the product or services with a promise to pay after some time? a. Supplier b. Creditor c. Accounts payable d. Accounts Receivable Expenses unpaid at the end of a given accounting period is known as _______. a. Bank overdrafts b. Accounts payable c. Unearned revenues d. Outstanding expenses When banks allowed the business to withdraw money even when the account has no funds is known as _______. a. Outstanding expenses b. Accounts payable c. Bank overdrafts d. Unearned revenues Which of the following basis of accounting realises revenue for part of the work completed ? a. Non Cash basis b. Cash Basis c. Production Basis d. Accrual Basis
Which among the following are transactions that are settled by immediate cash payment and cash receipts. a. credit transactions b. cash transactions c. accounts d. financial statements What is the amount to be collected by the business from customer who receive the product or services with a promise to pay after some time? a. Supplier b. Creditor c. Accounts payable d. Accounts Receivable Expenses unpaid at the end of a given accounting period is known as _______. a. Bank overdrafts b. Accounts payable c. Unearned revenues d. Outstanding expenses When banks allowed the business to withdraw money even when the account has no funds is known as _______. a. Outstanding expenses b. Accounts payable c. Bank overdrafts d. Unearned revenues Which of the following basis of accounting realises revenue for part of the work completed ? a. Non Cash basis b. Cash Basis c. Production Basis d. Accrual Basis
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which among the following are transactions that are settled by immediate cash payment and cash receipts.
a.
credit transactions
b.
cash transactions
c.
accounts
d.
financial statements
What is the amount to be collected by the business from customer who receive the product or services with a promise to pay after some time?
a.
Supplier
b.
Creditor
c.
Accounts payable
d.
Accounts Receivable
Expenses unpaid at the end of a given accounting period is known as _______.
a.
Bank overdrafts
b.
Accounts payable
c.
Unearned revenues
d.
Outstanding expenses
When banks allowed the business to withdraw money even when the account has no funds is known as _______.
a.
Outstanding expenses
b.
Accounts payable
c.
Bank overdrafts
d.
Unearned revenues
Which of the following basis of accounting realises revenue for part of the work completed ?
a.
Non Cash basis
b.
Cash Basis
c.
Production Basis
d.
Accrual Basis
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