ACC 556 STR Course Great Wisdom / tutorialrank.com ACC 556 STR Course Great Wisdom / tutorialrank.com | Page 73

An aging of accounts receivable schedule is based on the premise that
the longer the period an account remains unpaid, the greater the
probability that it will eventually be collected.
· Question 5
A concentration of credit risk is a threat of nonpayment from a single
customer or class of customers that could adversely affect the
financial health of the company.
· Question 6
Which of the following is not a common way that managers use the
balance sheet?
· Question 7
Financing activities include the purchase or sale of long-lived assets
or the purchase or sale of investment securities.
· Question 8
Bathlinks Corporation has a debt to assets ratio of 73%. This tells the
user of Bathlinks‘s financial statements that
· Question 9
Owners of business firms are the only people who need accounting
information.
· Question 10
Marvin Services Corporation had the following accounts and
balances:
If the balance of the Buildings account was $45,000 and the
equipment was sold for $21,000, what would be the total of
stockholders' equity?
· Question 11