ACC 556 STR help A Guide to career/uophelp.com ACC 556 STR help A Guide to career/uophelp.com | Page 66

To obtain maximum benefit from a bank reconciliation, the
reconciliation should be prepared by the employee authorized to sign
checks.
· Question 4
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?