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5 Written questions

5 Matching questions

  1. book value of accounts receivable
  2. depreciation expense
  3. current assets
  4. Subsidiary ledger
  5. book value of a plant asset
  1. a a ledger that is summarized in a single general ledger account
  2. b cash and other assets expected to be exchanged for cash or consumed within a year
  3. c the original cost of a plant asset minus accumulated depreciation
  4. d the difference between the balance of accounts receivable and its contra account, allowance for uncollectible accounts
  5. e 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

5 Multiple choice questions

  1. a group of persons elected by the stockholders to manage a corporation
  2. an account in a general ledger that summarizes all accounts in a subsidiary ledger
  3. accounts receivable that cannot be collected
  4. A listing of vendor accounts, account balances, and total amount due all vendors.
  5. action by a board of directors to distribute corporate earnings to stockholders

5 True/False questions

  1. straight-line method of depreciationcharging an equal amount of depreciation expense for a plant asset in each year of useful life

          

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

          

  3. accounts receivable ledgera subsidiary ledger containing only accounts for charge customers

          

  4. Accounts payable ledgera subsidiary ledger containing only accounts for charge customers

          

  5. merchandise inventorya group of persons elected by the stockholders to manage a corporation