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5 Written questions

5 Matching questions

  1. What is: Primary source of revenue for a medrchandising company.
  2. What accounting constraint allows a company to ignore GAAP if an item is too small to impact a decision?
  3. Which inventory costing method can be used if each item of inventory is identifiable?
  4. Which of the following items in a cash drawer at November 30 is NOT reported as cash?
    Money orders.
    Coins and currency.
    A customer check dated December 1.
    A customer check dated November 28.
  5. A company should classify land held for a planned manufacturing facility as...
  1. a A customer check dated December 1.
  2. b an investment
  3. c Specific identification
  4. d Sales Revenue
  5. e Materiality.

5 Multiple choice questions

  1. current assets less current liabilities.
  2. Intangible Assets
  3. Income from operations - Other revenue and expense - income tax expense
  4. Sales Return.
  5. Current Assets

5 True/False questions

  1. What is the classification for Income Taxes Payable?Current Assets


  2. How do you calculate other revenues and expenses?(Interest Expense) + Interest Income


  3. What is the classification for Dividends?Not on the balance sheet


  4. The current ratio is a:liquidity ratio.


  5. What is the classification for mortgage payable (payments due monthly over the next 20 years)?Long-term investments