Quiz 7 - SubmittedbyTran,Khoa(KHOTRAN1)on7:05:33PM PointsAwarded 8.00 PointsMissed 2.00 Percentage 80.0 1 "cash"except A)currency

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Submitted by Tran, Khoa (KHOTRAN1) on 2/12/2012 7:05:33 PM Points Awarded 8.00 Points Missed 2.00 Percentage 80.0% 1.  All of the following may be included under the heading of "cash" except A) currency.  B) money market funds.  C) checking account balance.  D) savings account balance.  Points  Earned:  1.0/1.0  Correct Answer(s): B 2.  Deposits held as compensating balances  A) usually do not earn interest.  B) if legally restricted and held against short-term credit may be included as cash.  C) if legally restricted and held against long-term credit may be included among current assets.  D)  Many answers are possible. Points  Earned:  0.0/1.0  Correct Answer(s): D 3.  What is "recourse" as it relates to selling receivables? A) The obligation of the seller of the receivables to pay the purchaser in case the debtor fails to pay.  B) The obligation of the purchaser of the receivables to pay the seller in case the debtor fails to pay  C) The obligation of the seller of the receivables to pay the purchaser in case the debtor returns the product  related to the sale. 
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This note was uploaded on 02/15/2012 for the course ACCT 2402 taught by Professor Lewis during the Spring '10 term at Lone Star College System.

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Quiz 7 - SubmittedbyTran,Khoa(KHOTRAN1)on7:05:33PM PointsAwarded 8.00 PointsMissed 2.00 Percentage 80.0 1 "cash"except A)currency

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