
Adv Acct (2024): Ch 14-14.2
Authored by Trent Goldsmith
Business
12th Grade
Used 1+ times

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22 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What company is the "real life" focus of this chapter?
Apple
Best Buy
Nike
UPS
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The contra account for Accounts Receivable is...
Accumulated Depreciation
Allowance for Uncollectible Accounts
Uncollectible Accounts Expense
Bad Debts Expense
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Our terms for customer accounts that are on credit are
1/5, n/15
2/10, n/15
1/10, n/30
2/10, n/30
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Accounts receivable that cannot be collected are called
collectible accounts
uncollectible accounts
accounts receivable
allowance accounts
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The acronym for the principles the accounting profession uses.
GAAP
KFC
EWoT
SEC
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The difference between an asset’s account balance and its related contra account balance.
market value
historical cost
book value
opportunity cost
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The amount of accounts receivable a business expects to collect.
net realizable value
gross realizable value
net market value
net book value
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