Chapter 05 - Quiz_1

Chapter 05 - Quiz_1 - Chapter #5 Name Take-Home Quiz...

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Chapter #5 Take-Home Quiz Name Section/Time Chapter 05 - Take-Home Quiz.doc Instructions: The questions in this quiz are very similar to the types of questions you will see on the midterm and final exams. Circle the choice that best answers the question. Turn in your quiz at the beginning of class on the scheduled due date. I suggest you work on this take-home quiz individually to maximize the learning potential. However, you are permitted to work on the quizzes in groups. 1. The basis for classifying assets as current or noncurrent is conversion to cash within a. the accounting cycle or one year, whichever is shorter. b. the operating cycle or one year, whichever is longer. c. the accounting cycle or one year, whichever is longer. d. the operating cycle or one year, whichever is shorter. 2. The correct order to present current assets is a. Cash, accounts receivable, prepaid items, inventories. b.
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This note was uploaded on 01/20/2011 for the course ACC 301 taught by Professor Staff during the Fall '08 term at Kentucky.

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Chapter 05 - Quiz_1 - Chapter #5 Name Take-Home Quiz...

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