3101 Quiz-05 for student 2010

3101 Quiz-05 for student 2010 - Acctg3101 a. b. c. d. Quiz...

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Acctg3101 Quiz Chap.5 Name: 1. Which of the following asset items is not reported as part of cash equivalents? a. bank certificate of deposit maturing in 90 days. b. thirty-day commercial paper. c. common stock of another company and will be actively traded. d. U.S. treasury bill maturing in 60 days. 2. The amount of time that is expected to elapse until an asset is realized or otherwise converted into cash is referred to as a. solvency. b. financial flexibility. c. liquidity. d. exchangeability. 3. Which of the following is most likely to be reported as a current asset? a. Cash surrender value of a life insurance policy of which the company is the beneficiary. b. Investment in equity securities for the purpose of controlling the issuing company. c. Cash designated for the purchase of paying off long-term bonds payable. d. Houses completed or under construction for a home builder business. . 4.
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This note was uploaded on 04/29/2011 for the course ACCT 3010 taught by Professor John during the Spring '11 term at University of Minnesota Duluth.

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