9-11 - Troy University Augusta Site Principles of...

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Troy University Augusta Site Principles of Accounting – Exam 3 Chapters 9-11 Name __________________________ Date __________________ MULTIPLE CHOICE – Please highlight in yellow the one correct answer for each statement or question below. Chapter 9 – Receivables 1. A note receivable due in 18 months is listed on the balance sheet under the caption a. long-term liabilities b. fixed assets c. current assets d. investments 2. The two methods of accounting for uncollectible receivables are the allowance method and the a. equity method b. direct write-off method c. interest method d. cost method 3. The amount of a promissory note is called the a. realizable value b. maturity value c. face value d. Proceeds 4. Receivables are usually listed in order a. of the due date b. of the size c. alphabetically d. of liquidity 5. When does an account become uncollectible? a. when the debtor fails to pay an account according to a sales contract b. when the debtor fails to pay a note on the due date c. there is no general rule for when an account becomes uncollectible d. at the end of the fiscal year e. upon receipt of a certified letter from the debtor
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6. Accounts Receivable Turnover measures a. how frequently during the year the accounts receivable are converted to cash
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9-11 - Troy University Augusta Site Principles of...

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