Accounting_202_Chapter_9_Test

Accounting_202_Chapter_9_Test - ACCOUNTING 202 CHAPTER 9...

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

View Full Document Right Arrow Icon
ACCOUNTING 202 CHAPTER 9 TRUE-FALSE STATEMENTS 1. Trade receivables occur when two companies trade or exchange notes receivables. 2. Other receivables include nontrade receivables such as loans to company officers. 3. Both accounts receivable and notes receivable represent claims that are expected to be collected in cash. 4. Receivables are valued and reported in the balance sheet at their gross amount less any sales returns and allowances and less any cash discounts. 5. The three primary accounting problems with accounts receivable are: (1) recognizing, (2) depreciating, and (3) disposing Multiple Choice Questions 6. Which of the following receivables would not be classified as an "other receivable"? a. Advance to an employee b. Refundable income tax c. Notes receivable d. Interest receivable 7. Notes or accounts receivables that result from sales transactions are often called a. sales receivables. b. non-trade receivables.
Background image of page 1

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

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

Page1 / 2

Accounting_202_Chapter_9_Test - ACCOUNTING 202 CHAPTER 9...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online