{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

ACCT ch7 practice test - ACCT ch 7 practice quiz Seasonal...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCT ch 7 practice quiz Seasonal cycles require careful planning of: cash inflows and outflows. borrowing. investing. all of these. Seasonal cycles cause income and expenditures to fluctuate. Because of this cash inflows and outflows, borrowing, and investing must be carefully planned. A common measure of the effect of a company's credit policies is receivable turnover. days' sales uncollected. both of these. Both the receivables turnover and days' sales uncollected are common measures of a company's credit policies. T he receivables turnover ratio consists of one balance sheet account and one income statement account. True The receivables turnover ratio does consist of one balance sheet account and one income statement account. It is computed by dividing net sales by average net accounts receivable. Money market funds usually: invest in very safe securities. are used to earn interest with cash not needed for current operations. are considered short-term debt of other entities. All of these are correct. Money market funds usually invest in very safe securities with funds not needed for current operations. They are considered short-term debt of other entities for which investors do not expect losses. Which of the following is true? Cash equivalents are classified as current assets. Cash equivalents are not stated at market value but at cost . They do not include certificates of deposit of any term but do include those maturing within 90 days or less . Cash equivalents are classified as current assets.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern