Practice Test Ch 9

Practice Test Ch 9 - Practice Test Chap9 Acctg 202 _ 1. The...

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Practice Test Chap9 Acctg 202 ____ 1. The maturity date of a note receivable: a. Is the day of the credit sale. b. Is the day the note was signed. c. Is the day the note is due to be paid. d. Is the date of the first payment. e. Is the last day of the month. ____ 2. The matching principle requires: a. That expenses be ignored if their effect on the financial statements are less important than revenues to the financial statement user. b. The use of the direct write-off method for bad debts. c. The use of the allowance method of accounting for bad debts. d. That bad debts be disclosed in the financial statements. e. That bad debts not be written off. ____ 3. If the credit balance of the Allowance for Doubtful Accounts account exceeds the amount of a bad debt being written off, the entry to record the write-off against the allowance account results in: a. An increase in the expenses of the current period. b.
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Practice Test Ch 9 - Practice Test Chap9 Acctg 202 _ 1. The...

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