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A series of equal receipts at equal intervals of time

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5. A series of equal receipts at equal intervals of time when each receipt is received at the beginning of each time period is called an a. ordinary annuity b. annuity in arrears c. annuity due d. unearned receipt 6. Companies include postdated checks and petty cash funds as cash. False: post-dated checks are treated as receivables 7. Trade receivables include notes receivable and advances to officers and employees. False: advances to officers and employees are Nontrade receivables 8. Notes receivable are generally reported as non-current assets. False; notes receivables are reported as current assets
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9. Which of the following is not considered cash for financial reporting purposes? a. Petty cash funds and change funds. b. Money orders, certified checks and personal checks. c. Coin, currency and available funds. d. Postdated checks and I.O.U.’s 10. Bank overdrafts, if material, should be
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