Marketing Research

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CFR Quiz
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*  / ► 20 July - 26 July
*  / ► CFR Quiz 7
*  / ► Review of attempt 1
Review of attempt 1
Started on| Saturday, 15 September 2012, 03:14 PM|
Completed on| Saturday, 15 September 2012, 03:14 PM|
Time taken| 13 secs|
Marks| 0/15|
Grade| 0 out of a maximum of 10 (0%)|
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Top of Form
Question1
Marks: 1

Cash consists of all of the following except
Choose one answer.
| a. compensating balances. | |
| b. deposits in savings accounts. | |
| c. IOUs from customers. | |
| d. money orders from customers. | |
Incorrect
Marks for this submission: 0/1.
Question2
Marks: 1

A note receivable dated May 23 and due in 90 days would be due on Choose one answer.
| a. August 20. | |
| b. August 21. | |
| c. August 23. | |
| d. August 22. | |
Incorrect
Marks for this submission: 0/1.
Question3
Marks: 1

Which of the following would not be included in Cash or Cash Equivalents? Choose one answer.
| a. Deposits in bank checking accounts | |
| b. Ninety-day U.S. Treasury bills held | |
| c. Checks and money orders received from customers | | | d. Six-month certificates of deposit held | |
Incorrect
Marks for this submission: 0/1.
Question4
Marks: 1

For the following definition(s), choose the letter that corresponds to the correct term. Use each letter only once. a. Accounts receivable| i. Maturity date|
b. Aging of accounts receivable| j. Maturity value|
c. Allowance for Uncollectible Accounts| k.  Promissory note| d. Cash equivalents| l. Securitization|
e. Contingent liability| m. Short-term financial assets|
f.  Discounting| n. Trade credit|
g. Dishonored note| o. Uncollectible accounts|
h. Interest|  |
| |

Short-term investments that will revert to cash in 90 days or less from the time they are purchased. Answer:

Incorrect
Correct answer: D
Marks for this submission: 0/1.
Question5
Marks: 1

An example of a cash equivalent is
Choose one answer.
| a. notes receivable. | |
| b. a 120-day time deposit. | |
| c. accounts receivable. | |
| d. a 60-day certificate of deposit. | |
Incorrect
Marks for this submission: 0/1.
Question6
Marks: 1

For which of the following errors should the appropriate amount be added to the balance per bank on a bank reconciliation? Choose one answer.
| a. Deposit of $400 recorded by bank as $100 | |
| b. Check issued for $52 recorded by company as $25 | | | c. A returned $300 check recorded by bank as $200 | | | d. Check issued for $37 recorded by company as $73 | | Incorrect
Marks for this submission: 0/1.
Question7
Marks: 1

Using the accounts receivable aging method, estimated uncollectible accounts are $50,000. If the balance of the Allowance for Uncollectible Accounts is an $18,000 debit before adjustment, what is the balance after adjustment? Choose one answer.

| a. $18,000 | |
| b. $50,000 | |
| c. $68,000 | |
| d. $32,000 | |
Incorrect
Marks for this submission: 0/1.
Question8
Marks: 1

On December 31, Hill Enterprises has a $300 credit balance in Allowance for Uncollectible Accounts. If an aging method analysis indicated that an estimated $4,500 of December 31 receivables are uncollectible, for what amount would the adjusting entry for uncollectible accounts be recorded? Answer:

Incorrect
Correct answer: $4,200
Marks for this submission: 0/1.
Question9
Marks: 1

The account Allowance for Uncollectible Accounts is classified as a Choose one answer.
| a. contra account to Accounts Receivable. | |
| b. contra account to Uncollectible Accounts Expense. | | | c. liability. | |
| d. contra account to Sales. | |
Incorrect
Marks for this submission: 0/1.
Question10...
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