NEW
Font size
WorksheetsTR AND ALLOWANCE FOR IMPAIRMENT OF TR
Total questions: 10
Worksheet time: 2mins
TR = amount expected to be ............. in the future
PAID
COLLECTIBLE
When payment received from TR
TR +
TR -
Amount ESTIMATED to be UNCOLLECTIBLE =
Impairment loss on trade receivable
ALLOWANCE for impairment of trade receivable
ALLOWANCE for impairment of trade receivables =
Expense
CONTRA asset
IMPAIRMENT LOSS on trade receivable =
other INCOME
other EXPENSES
IMPAIRMENT LOSS on trade receivables APPEAR in statement of financial
PERFORMANCE
POSITION
Allowance for impairment of trade receivables is created because of
PRUDENCE theory
MATCHING theory
CONFIRMED uncollectible = ESTIMATED uncollectible
TRUE
FALSE
Debt WRITTEN OFF = debt .............. uncollectible
CONFIRMED
ESTIMATED
Trade receivable ...................... because of estimated uncollectible.
INCREASE
DECREASE
