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WorksheetsFABM 2: SFP W1
Total questions: 9
Worksheet time: 65secs
Include bills & coins on hand, bank accounts, and operating funds
Inventory
Account receivable
Cash and cash equivalents
What type of company that the supplies inventory classified under the current assets of the company and not counted as ending inventory?
Merchandising company
Service company
Both A and B
Amount owed by the customer to the entity and are evidenced by a promissory note. (E.g. P5,000, 60 days at 6% interest rate)
Notes receivable
Notes payable
Interest expense
Collectible amount due to the cost of borrowing money by the customers to the entity.
Interest Payable
Interest receivable
Interest expense
Include goods for resell in the normal course of the business-like finished goods, goods in process, and raw materials available.
Supplies
inventory
Materials
Assets that cannot be realized on one year after year end date but for long period of time.
Noncurrent Assets
Current Assets
Owner’s Equity
Which of the account is not contra assets?
Accumulated Depreciation
Account receivable
Cash
Which is not permanent account?
Assets
Liabilities
Sales
If assets are Php17,000 and owner's equity is Php10,000, liabilities are
27,000
7,000
10,000
