WorksheetsQuiz AKM IKI-5
Total questions: 10
Worksheet time: 5mins
What is meant by accounts receivable?
Money received by the company from customers due to the sale of goods or services
Money that the company owes to suppliers
Money that the company has in cash
Money received by the company from investments
Money deposited by shareholders
According to PSAK No. 9, accounts receivable includes receivables arising from...
Loans from banks
Interest payments on loans
Payments of long-term debt
Sale of shares
Sale of products or provision of services in the normal course of business
What is the purpose of internal control of accounts receivable?
Increase sales
Reduce administrative costs
Ensure safe cash receipts
Improve production efficiency
Reduce tax burden
The main steps in the internal control of accounts receivable include...
Allowing accountants to handle cash
Recording all transactions manually
Using locked boxes at the bank for direct payments from customers
Combining the accounting and cashier departments
Keeping all receivables in one account
The main risk in accounts receivable accounting is...
Decrease in investment value
Default resulting in uncollectible receivables loss
Excessive profit
Reduction in company revenue
Increase in long-term debt
How are uncollectible receivables recognized in accounting?
As other income
As a reduction of sales revenue
As a fixed asset that must be sold
As an expense when the receivable is declared uncollectible due to the debtor's bankruptcy
As a cash reserve for the future
What is meant by estimated uncollectible receivables?
Estimated cost of goods sold
Estimated amount of receivables that cannot be collected at the end of the accounting period
Estimated amount of cash available at the end of the period
Process of writing off receivables
Estimated profit earned from the sale of goods
What happens if accounts receivable are truly uncollectible?
The company will write off the receivables with management's approval
Receivables are paid by the company's management
Receivables are transferred to accounts payable
Receivables are converted into company shares
Receivables are handed over to a third party for collection
What is meant by the nominal method in estimating uncollectible receivables?
Calculating uncollectible receivables based on the value of receivables that have been paid
Calculating uncollectible receivables based on a certain percentage of credit sales
Calculating uncollectible receivables based on the amount of payments received
Calculating uncollectible receivables based on the amount of debts due
Calculating uncollectible receivables based on market analysis
What should be done regarding the accounts receivable balance that is uncollectible from the previous period?
Add the balance to the current period's profit
Remove the balance from the financial statements
Estimate the uncollectible accounts receivable that should be recorded in the current period
Add the balance to the company's equity
Receive direct payment from customers
