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5 Written questions

5 Matching questions

  1. plant assets
  2. merchandise inventory
  3. controlling account
  4. Accounts payable ledger
  5. dividends
  1. a the amount of goods on hand for sale to customers
  2. b an account in a general ledger that summarizes all accounts in a subsidiary ledger
  3. c Earnings distributed to stockholders
  4. d Assets that will be used for a number of years in the operation of a business
  5. e A subsidiary ledger containing only accounts for vendors from whom items are purchased or bought on account.

5 Multiple choice questions

  1. the difference between an asset's account balance and its related contra account balance
  2. the difference between the balance of accounts receivable and its contra account, allowance for uncollectible accounts
  3. cash and other assets expected to be exchanged for cash or consumed within a year
  4. an amount earned by a corporation and not yet distributed to stockholders
  5. a subsidiary ledger containing only accounts for charge customers

5 True/False questions

  1. board of directorsAssets that will be used for a number of years in the operation of a business

          

  2. declaring a dividendEarnings distributed to stockholders

          

  3. uncollectible accountsaccounts receivable that cannot be collected

          

  4. allowance method of recording losses from uncollectible accountsaccounts receivable that cannot be collected

          

  5. straight-line method of depreciationcumulative amount for all prior years depreciation expense; subtracted from plant and equipment

          

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