Accounting quizzes help?

1. 8 are false of the latter 8 multiple choice right

1. If a company pays all your earnings in the bank deposits and all his bills by check your monthly statement balance with the companys recording is its checking balance then voice

2. all reconciling items in the calculation of the adjusted cash credits per books require the Einlagerer adjusting journal entries to make cash account

3. If companies performing method uses to uncollectible accounts account covers the entry a uneinbringlich copy account only balance sheet accounts

4. Flying for doubtful accounts is a contra asset account

5 Realisable value is determined cash by subtracting flying for doubtful receivables net sales

6. GAAP require the direct depreciation method to use for financial reporting purposes, when used for tax purposes

7. see the flying method is realizable value of receivables is amortised cash before and after an account

8. both the gross amount of the receivables and the allowance for doubtful accounts should be reported in the balance sheet

9. in a large organization the independant internal verification procedure is often a, computer-Operaters-b C, internal auditor d. outside cpas e. assigned to none of the above

Liability is reported as A. asset B. c. other costs 10 bar deposits. d other revenue e. none

11 Notification from the bank returned NSF registered check box requires the company of the following customization make entry A. accounts Receveiable/cash as cash/accounts receivable c. misc/receiveable d. bad debt expenses/cash e. none expense accounts

12 Cash Equivelents are highly liquid investments it can in a certain amount of cash on delivery times be converted a. 1 month or less if purchased b. 3 months or less c. 6 months or less d. 1 year or less e. none

13 If an account is depreciated using the allowance method, accounts receiveable remains a. and B. increased the allowance and flying, c. increases reduced and allowance increases d. reduced and allowance reduces e. none

14. under the fixed rate method of accounting for bad a. cash is burdened realisable value accounts Recieveable larger b bad debt Expence, if a specific account to pay same d. is for doubtful accounts is not closed e. c. CASHE realizeable written off is

15 if account is uncollectible and A. Allownce depreciated must for doubtful accounts credited receiveable B. accounts should be subjected to c. should bad debt should be credited d. sales should be not charged e.

16 under aircraft Mthod Wirting an uncollectible account a. concerns only balance sheet example relates to both the income and balance c. statement concerns only income statement d. e. unacceptable practice is none

Thank you very much!

Since the quiz about now, I'll answer your questions.

1. If a company pays all your earnings in the bank deposits and all his bills by check your monthly statement balance with the companys recording is its checking balance then voice
False

2. all reconciling items in the calculation of the adjusted cash credits per books require the Einlagerer adjusting journal entries to make cash account
True

3. If companies performing method uses to uncollectible accounts account covers the entry a uneinbringlich copy account only balance sheet accounts
True

4. Flying for doubtful accounts is a contra asset account
True

5 Realisable value is determined cash by subtracting flying for doubtful receivables net sales
False

6. GAAP require the direct depreciation method to use for financial reporting purposes, when used for tax purposes
False

7. see the flying method is realizable value of receivables is amortised cash before and after an account
True

8. both the gross amount of the receivables and the allowance for doubtful accounts should be reported in the balance sheet
True

9. in a large organization the independant internal verification procedure is frequently assigned
b, management

Cash will be 10 balance than reported.
A. asset

11 Notification from the bank returned NSF registered check box requires the company of the following customization make entry
A. accounts Receveiable/cash

12 Cash Equivelents are highly liquid investments, in a certain amount of cash with the terms of can be converted
b. 3 months or less

13 If an account is depreciated using the allowance method accounts receiveable
d. reduced and decreases the allowance

14. Under the fixed rate method of accounting for irrecoverable
e. none of the above

15 when account is uncollectible and must be amortized
receiveable B. accounts should be debited

16 under aircraft Mthod Wirting bad account
a. concerns only balance sheet