AFIOTR Basic
Authored by Ivan Tan
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6th Grade - University
Used 66+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Trade receivables refer to
credit customer who still owe business money
goods sold to customer on cash basis
supplier of goods
debts owing to supplier
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What's the double entry to record creation of AFIOTR?
Dr Trade receivable, Cr AFIOTR
Dr Impairment loss on TR, Cr AFIOTR
Dr AFIOTR, Cr Trade receivable
Dr AFIOTR, Cr Impairment loss on TR
3.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
AFIOTR refer to
customer who has paid back the money to business
credit customer who still owe business money
estimated trade receivables who are likely to be uncollectible
credit customer who has gone bankrupt
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What's the double entry to record cheque received from trade receivables ?
Dr Trade receivable, Cr Cash at bank
Dr Cash at bank, Cr Trade receivable
Dr Cash at bank, Cr Sales revenue
Dr Cash at bank, Cr Inventory
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What's the double entry to record increase in AFIOTR?
Dr Trade receivable, Cr AFIOTR
Dr Impairment loss on TR, Cr AFIOTR
Dr AFIOTR, Cr Trade receivable
Dr AFIOTR, Cr Impairment loss on TR
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What's the double entry to record decrease in AFIOTR?
Dr Trade receivable, Cr AFIOTR
Dr Impairment loss on TR, Cr AFIOTR
Dr AFIOTR, Cr Trade receivable
Dr AFIOTR, Cr Impairment loss on TR
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What's the double entry to write off of the debt of a credit customer who has gone bankrupt?
Dr Trade receivable, Cr AFIOTR
Dr Impairment loss on TR, Cr AFIOTR
Dr AFIOTR, Cr Trade receivable
Dr AFIOTR, Cr Impairment loss on TR
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