Accounting Chapter 14

Accounting Chapter 14

9th - 12th Grade

34 Qs

quiz-placeholder

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Accounting Chapter 14

Accounting Chapter 14

Assessment

Quiz

Life Skills

9th - 12th Grade

Medium

Created by

Kim Munk

Used 29+ times

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34 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounts receivable that cannot be collected:
Uncollectible Accounts
Writing off an Account
Note Receivable
Promissory Note

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Crediting the estimated value of uncollectible accounts to a contra account: 
Allowance Method
Book Value
Direct Write-Off Method
Dishonored Method

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between an asset’s account balance and its related contra account balance:
Book Value
Interest Value
Maturity Value
Dishonored Value

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between the balance of Accounts Receivable and its contra account, Allowance for Uncollectible Accounts:
Book Value of Accounts Receivable
Maker Value
Maturity Value
Interest Value

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount of accounts receivable a business expects to collect:
Net Realizable Value
Maturity Value
Maturity Date
Interest Rate

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A method used to estimate uncollectible accounts receivable that assumes a percent of credit sales will become uncollectible:
Percent of Sales Method
Percent of Accounts Receivable Method
Principal Method
Promissory Method

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A method used to estimate uncollectible accounts receivable that uses an analysis of accounts receivable to estimate the amount that will be uncollectible:
Percent of Accounts Receivable Method
Percent of Sales Method
Payee Method
Not Receivable Method

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