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5 Written questions

5 Matching questions

  1. declaring a dividend
  2. uncollectible accounts
  3. depreciation expense
  4. Accounts payable ledger
  5. straight-line method of depreciation
  1. a charging an equal amount of depreciation expense for a plant asset in each year of useful life
  2. b A subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account.
  3. c the portion of a plant asset's cost that is transferred to an expense account in each fiscal period during a plant asset's useful life
  4. d action by a board of directors to distribute corporate earnings to stockholders
  5. e accounts receivable that cannot be collected

5 Multiple choice questions

  1. Earnings distributed to stockholders
  2. A listing of customer accounts, account balances, and total amount due from all customers.
  3. Crediting the estimated value of uncollectible accounts to a contra account
  4. A listing of vendor accounts, account balances, and total amount due all vendors.
  5. the amount of goods on hand for sale to customers

5 True/False questions

  1. board of directorscash and other assets expected to be exchanged for cash or consumed within a year

          

  2. plant assetsAssets that will be used for a number of years in the operation of a business

          

  3. controlling accountaccounts receivable that cannot be collected

          

  4. book value of a plant assetthe difference between the balance of accounts receivable and its contra account, allowance for uncollectible accounts

          

  5. accumlated depreciationcumulative amount for all prior years depreciation expense; subtracted from plant and equipment

          

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