Select one true false feedback the correct answer is

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Select one:True False FeedbackThe correct answer is 'True'.
Question 5CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) A classified income statement has four major sections—operating revenues, cost of goods sold, operating expenses, and non-operating revenues and accounts receivables.
Question 6CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) Non-operating revenues and expenses are revenues and expenses not related to the sale of products or services regularly offered for sale by a business.
Question 7CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) The two basic methods for estimating uncollectible accounts under the allowance method are the percentage-of-cost of sales method and the percentage-of-receivables method.
Question 8CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) Liabilities result from some past transaction and are obligations to pay cash, provide services, or deliver goods at some time in the future.Select one:True False FeedbackCorrect.The correct answer is 'True'.
Question 9CorrectMark 1.00 out of 1.00
Flag questionQuestion text(T / F) Generally, the lower the accounts receivable turnover, the better; and the shorter the average collection period, the better.
Question 10CorrectMark 1.00 out of 1.00Flag questionQuestion text(T / F) Current liabilities are classified as clearly determinable, estimated, and contingent.
Correct. Current liabilities are classified into those three categories.The correct answer is 'True'"Y" Company began the accounting period with $60,000 of merchandise, and net cost of purchases was $240,000. A physical inventory showed $72,000 of merchandise unsold at the endof the period. The cost of goods sold of Y Company for the period is:
Question 2CorrectMark 10.00 out of 10.00Flag questionQuestion textA business purchased merchandise for $12,000 on account; terms are 2/10, n/30. If $2,000 of the merchandise was returned and the remaining amount due was paid within the discount period, the purchase discount would be:Select one:
a. $200.

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