•Question 9
Receivables are
•Question 10
Regions Inc. pays its rent of $48,000 annually on January 1 and makes monthly adjusting
entries. If the February 28 monthly adjusting entry for prepaid rent is omitted, which of
the following are true?
•Question 11
What is an advantage of using the multiple-step income statement?
•Question 12
The primary difference between accrued revenues and unearned revenues is that accrued
revenues have:
•Question 13
Dobler Company gathered the following reconciling information in preparing its June
bank reconciliation:
Cash balance per books, 6/30
$8,400
Deposits in transit
600
Notes receivable and interest collected by bank 1,480
Bank charge for check printing
50
Outstanding checks
3,000
NSF check
280
The adjusted cash balance per books on June 30 is
•Question 14
Which of the following is least likely to help a company minimize losses as credit standards
are relaxed?
•Question 15
A company usually determines the amount of supplies used during a period by:
•Question 16
If a company is given credit terms of 2/10, n/30, it should
•Question 17
Independent internal verification of the physical inventory process occurs when
•Question 18
Two companies report the same cost of goods available for sale but each employs a
different inventory costing method. If the price of goods has increased during the period,
then the company using