BS Accounts

BS Accounts

University

8 Qs

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BS Accounts

BS Accounts

Assessment

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Other

University

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Will Craft

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8 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Warranty Obligation goes where on the blance sheet?

Assets on the balance sheet
Equity section of the balance sheet
Revenue recognition on the balance sheet
Liabilities (current or long-term) on the balance sheet

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Treasury Stock goes where on the balance sheet and has what balance (debit or credit)?

Treasury Stock goes in the liability section of the balance sheet and has a credit balance.
Treasury Stock goes in the asset section of the balance sheet and has a credit balance.
Treasury Stock goes in the equity section of the balance sheet and has a credit balance.
Treasury Stock goes in the equity section of the balance sheet and has a debit balance.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where does and AFS security go on the balance sheet?

AFS securities are recorded as intangible assets.
AFS securities go under non-current assets on the balance sheet.
AFS securities are listed under equity on the balance sheet.
AFS securities are classified as current liabilities.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where does a bond sinking fund go on the balance sheet?

Long-term Liability

Equity

Long-term asset
Current liability

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Dividends payable go where on the balance sheet?

Assets
Equity

Current Liabilities

Long-term Liabilities

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trademark goes where on the balance sheet?

Equity
Liabilities

Intangible Assets

Current assets

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Prepaid Rent goes where on the balance sheet?

Current Liabilites

Current Assets

Equity
Long-term Liabilities

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