超星 - Assignment 5

单选题

Thebiggestriskofsellingoncreditis:

A. theriskofpostingapaymenttothewrongsubsidiaryaccount
B. theriskofnotcollectingsomeofthereceivables
C. theriskoflosingasale
D. noneoftheabove

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单选题

Undertheallowancemethod:

A. thecompanyrecordstheuncollectible-accountexpensewhenthecustomerdoesnotpay
B. theallowanceforuncollectibleaccountsisacontraaccounttogrossrevenue
C. theallowanceforuncollectibleaccountswillnormallyhaveadebitbalance
D. thecompanysetsupanallowanceforuncollectibleaccountstoestimatetheamountofthereceivablesthecompanydoesnotexpecttocollect.

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单选题

Allowanceforuncollectibleaccountsisclassifiedas:

A. acontra-expenseaccount
B. acontra-revenueaccount
C. acontra-assetaccount
D. noneoftheabove

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单选题

Thepurposeofowningtradingsecuritiesisto:

A. increasecashreserves
B. holdtheinvestmentforatleastoneyear
C. selltheinvestmentformorethanitscost
D. selltheinvestmenttodecreasenetincome

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单选题

Applecompanypurchasestradingsecurityfor$12,000.Theentrytorecordthistransactionwillincludea:

A. credittotheinvestmentaccount
B. debittotheinvestmentaccount
C. credittothedividendrevenueaccount
D. debittotheunrealizedgainaccount

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单选题

Whenacompanyreceivesacashdividendonatradingsecurity:

A. revenueisdecreased
B. assetsaredecreased
C. revenueisincreased
D. liabilitiesaredecreased

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单选题

Whichaccountshowstheamountofaccountsreceivablethatthebusinessdoesnotexpecttocollect?

A. uncollectibleaccountsexpense
B. allowanceforuncollectibleaccounts
C. salesreturnandallowance
D. unearnedaccountsreceivable

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单选题

Whichmethoddoesnotuseestimates?

A. direct-writeoffmethod
B. percent–of-sales
C. aging-ofreceivablesmethod
D. allowancemethod

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单选题

Undertheallowancemethod,whenacompanydeterminesthattheywillnotbeabletocollectfromaparticularcustomer,theywilldebit:

A. allowanceforuncollectibleaccounts
B. uncollectible-accountexpense
C. accountsreceivable
D. salesrevenue

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单选题

Undertheallowancemethod,theentrytowriteoffa$2,600uncollectibleaccountincludesa:

A. debittoallowanceforuncollectibleaccountsfor$2,600
B. credittoallowanceforuncollectibleaccountsfor$2,600
C. credittouncollectible-accountexpensefor$2,600
D. debittoaccountsreceivablefor$2,600

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