Ac300 unit 9 Quiz 10 qs 10-4-11

Ac300 unit 9 Quiz 10 qs 10-4-11 - 1.A disadvantage of using...

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1.A disadvantage of using the gross price method to account for cash discounts extended by the seller to its customer is that (Points : 2) the method reports accounts receivable at the net realizable value the method overstates the current sales and the accounts receivable at the end of the period the method requires more bookkeeping than the net price method the method enables sales returns and allowances to be recorded at gross instead of net amounts 2. Which of the following would not be considered a cash equivalent? (Points : 2) certificates of deposit commercial paper treasury bills money market fund securities 3. Nontrade receivables, such as deposits with utility companies or advances to subsidiary companies, should be (Points : 2) recorded in separate accounts and reported as noncurrent assets on the balance sheet recorded along with trade receivables in one account and included as part of the total receivables balance on the balance sheet recorded in separate accounts and separately reported on the balance sheet
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This note was uploaded on 11/21/2011 for the course KAPLAN UNI MT 140 taught by Professor Thum during the Spring '10 term at Kaplan University.

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Ac300 unit 9 Quiz 10 qs 10-4-11 - 1.A disadvantage of using...

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