Chapter 07 - Quiz

Chapter 07 - Quiz - Chapter #7 Name Take-Home Quiz...

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Chapter #7 Take-Home Quiz Name Section/Time Chapter 07 - 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. Which of the following is considered cash? a. Certificates of deposit (CDs) b. Checking accounts c. Money market savings certificates d. Postdated checks 2. Bank overdrafts, if material, should be a. reported as a deduction from the current asset section. b. reported as a deduction from cash. c. netted against cash and a net cash amount reported. d. reported as a current liability. 3. Which of the following should be recorded in Accounts Receivable? a. Receivables from officers b. Receivables from subsidiaries c. Dividends receivable d. Open accounts resulting from short-term extensions of credit to customers
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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 07 - Quiz - Chapter #7 Name Take-Home Quiz...

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