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5 Written questions

5 Matching questions

  1. schedule of accounts receivable
  2. declaring a dividend
  3. plant assets
  4. Subsidiary ledger
  5. accounts receivable ledger
  1. a A listing of customer accounts, account balances, and total amount due from all customers.
  2. b action by a board of directors to distribute corporate earnings to stockholders
  3. c Assets that will be used for a number of years in the operation of a business
  4. d a ledger that is summarized in a single general ledger account
  5. e a subsidiary ledger containing only accounts for charge customers

5 Multiple choice questions

  1. the amount of goods on hand for sale to customers
  2. 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
  3. charging an equal amount of depreciation expense for a plant asset in each year of useful life
  4. Earnings distributed to stockholders
  5. a group of persons elected by the stockholders to manage a corporation

5 True/False questions

  1. current assetsAssets that will be used for a number of years in the operation of a business

          

  2. retained earningsan amount earned by a corporation and not yet distributed to stockholders

          

  3. allowance method of recording losses from uncollectible accountsCrediting the estimated value of uncollectible accounts to a contra account

          

  4. book valuethe difference between an asset's account balance and its related contra account balance

          

  5. accumlated depreciationa group of persons elected by the stockholders to manage a corporation