GB 518 RANK Career Path Begins/gb518rank.com GB 518 RANK Career Path Begins/gb518rank.com | Page 32

$ 0.875 $ 6.00 $ 8.00

Question 23. Question: A promissory note received from a customer in exchange for an account receivable:

Is a cash equivalent for the recipient Is an account receivable for the recipient Is a note receivable for the recipient recipient

Is a short-term investment for the

Is a note payable for the recipient

Question 24. Question: The matching principle requires:

That expenses be ignored if their effect on the financial statements are less important than revenues to the financial statement user

The use of the direct write-off method for bad debts

$ 0.875 $ 6.00 $ 8.00

Question 23. Question: A promissory note received from a customer in exchange for an account receivable:

Is a cash equivalent for the recipient Is an account receivable for the recipient Is a note receivable for the recipient recipient

Is a short-term investment for the

Is a note payable for the recipient

Question 24. Question: The matching principle requires:

That expenses be ignored if their effect on the financial statements are less important than revenues to the financial statement user

The use of the direct write-off method for bad debts