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Multiple Choice: Reviewing F.Accounting I Universitat de Barcelona

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James Moore
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. A high receivables turnover ratio indicates:

a. The company’s sales are increasing

b. A large proportion of the company’s sales are on credit

c. Customers are making payments very quickly

d. Customers are making payments slowly

2. The retailer considers Visa and MasterCard sales as

a. Credit sales

b. Contingent sales

c. Cash sales.

d. Promissory sales.

3. Using the allowance method, the uncollectible accounts for the year

is estimated to be $35,000. If the balance for the Allowance for

Doubtful Accounts is a $9,000 credit before adjustment, what is the

amount of bad debt expense for the period?

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Multiple Choice: Reviewing F.Accounting I Universitat de Barcelona

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