5 Written questions
5 Matching questions
- What is: Primary source of revenue for a medrchandising company.
- What accounting constraint allows a company to ignore GAAP if an item is too small to impact a decision?
- Which inventory costing method can be used if each item of inventory is identifiable?
- Which of the following items in a cash drawer at November 30 is NOT reported as cash?
Coins and currency.
A customer check dated December 1.
A customer check dated November 28.
- A company should classify land held for a planned manufacturing facility as...
- a A customer check dated December 1.
- b an investment
- c Specific identification
- d Sales Revenue
- e Materiality.
5 Multiple choice questions
- current assets less current liabilities.
- Intangible Assets
- Income from operations - Other revenue and expense - income tax expense
- Sales Return.
- Current Assets
5 True/False questions
What is the classification for Income Taxes Payable? → Current Assets
How do you calculate other revenues and expenses? → (Interest Expense) + Interest Income
What is the classification for Dividends? → Not on the balance sheet
The current ratio is a: → liquidity ratio.
What is the classification for mortgage payable (payments due monthly over the next 20 years)? → Long-term investments