Download - Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

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Page 1: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which of the following is included in “Other Receivables”?

InvestmentsNotes receivables

Accounts receivablesLoans to employees

Page 2: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which of the following is included in “Other Receivables”?

InvestmentsNotes receivables

Accounts receivablesLoans to employees

Page 3: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which of the following duties should NOT be performed by a

credit department?

A. Evaluate customers who apply for credit

b. Handle cash receiptsc. Monitor customer payment records

d. Review applicant’s income and credit history

Page 4: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which of the following duties should NOT be performed by a

credit department?

A. Evaluate customers who apply for credit

b. Handle cash receiptsc. Monitor customer payment records

d. Review applicant’s income and credit history

Page 5: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which is a method of establishing control over collections of accounts

receivable?

A. Set up a petty cash fundb. Establish a bank lock box system

c. Allow no one but the bookkeeper to handle cash

d. Designate an authorized check signer.

Page 6: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which is a method of establishing control over collections of accounts

receivable?

A. Set up a petty cash fundb. Establish a bank lock box system

c. Allow no one but the bookkeeper to handle cash

d. Designate an authorized check signer.

Page 7: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which is a disadvantage of selling on credit?

A. Sales can be made to more peopleb. Profits are increased

c. Some customers do not pay, creating an expense

d. Both A & B

Page 8: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which is a disadvantage of selling on credit?

A. Sales can be made to more peopleb. Profits are increased

c. Some customers do not pay, creating an expense

d. Both A & B

Page 9: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

What are the two methods of accounting for uncollectible

receivables?

Allowance methodLiability method

Direct write-off methodAsset method

Page 10: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

What are the two methods of accounting for uncollectible

receivables?

Allowance methodLiability method

Direct write-off methodAsset method

Page 11: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which are the two methods of estimating uncollectible

receivables?

Aging of accounts receivable method

Percent of Sales methodAllowance method

Direct write off method

Page 12: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which are the two methods of estimating uncollectible

receivables?

Aging of accounts receivable method

Percent of Sales methodAllowance method

Direct write off method

Page 13: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which is the income statement approach to estimating bad debts?

Aging of accounts receivable method

Percent of Sales methodAllowance method

Direct write off method

Page 14: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which is the income statement approach to estimating bad debts?

Aging of accounts receivable method

Percent of Sales methodAllowance method

Direct write off method

Page 15: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which is the balance sheet approach to estimating bad debts?

Aging of accounts receivable method

Percent of Sales methodAllowance method

Direct write off method

Page 16: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Which is the balance sheet approach to estimating bad debts?

Aging of accounts receivable method

Percent of Sales methodAllowance method

Direct write off method

Page 17: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

What is it called when the maker of a promissory note fails to pay the

note on the due date?

A discounted noteA discarded note

A dishonored noteAn uncollectible note

Page 18: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

What is it called when the maker of a promissory note fails to pay the

note on the due date?

A discounted noteA discarded note

A dishonored noteAn uncollectible note

Page 19: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

What is the maturity value of a note?

Page 20: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

What is the maturity value of a note?

Principal amount plus interest

Page 21: Which of the following is included in “Other Receivables”? Investments Notes receivables Accounts receivables Loans to employees.

Other things to know:

calculating maturity dateMaturity value

Interest