Question 1

Match each statement to the item listed below
a.Bad debt expense
d.Percentage of credit sales
b.Net sales revenue
e.Profitability ratios
c.Nontrade receivables
f.Trade receivables
-A way to estimate bad debt expense.

Accepted Answer

The answer of Match each statement to the item listed...

Question 2

Select the term that matches each of the following descriptions.
a.Sales Discount
b.Trade Discount
c.Sales Allowance
d.Sales Returns
-Used to encourage prompt payment

Accepted Answer

The answer of Select the term that matches each of...

Question 3

Select the term that matches each of the following descriptions.
a.Sales Discount
b.Trade Discount
c.Sales Allowance
d.Sales Returns
-Reduction of price granted by the seller for a particular class of customers

Accepted Answer

The answer of Select the term that matches each of...

Question 4

Match each statement to the item listed below
a.Bank credit card
c.Sears card
b.Debit card
d.American Express
-Just a special form of factoring.

Accepted Answer

The answer of Match each statement to the item listed...

Question 5

Match each statement to the item listed below
a.Accounts receivable
e.Notes receivable
b.Aging method
f.Realized
c.Allowance for Doubtful Accounts
g.Securitization
d.Earned
-Generally entitle the holder to interest.

Accepted Answer

The answer of Match each statement to the item listed...

Question 6

Match each statement to the item listed below
a.Bank credit card
c.Sears card
b.Debit card
d.American Express
-No service charge expense is incurred by the issuer when this card is used.

Accepted Answer

The answer of Match each statement to the item listed...

Question 7

Match each statement to the item listed below
a.Bad debt expense
d.Percentage of credit sales
b.Net sales revenue
e.Profitability ratios
c.Nontrade receivables
f.Trade receivables
-Receivables that the company is not able to collect.

Accepted Answer

The answer of Match each statement to the item listed...

Question 8

Match each statement to the item listed below
a.Accounts receivable
e.Notes receivable
b.Aging method
f.Realized
c.Allowance for Doubtful Accounts
g.Securitization
d.Earned
-A way to estimate bad debts.

Accepted Answer

The answer of Match each statement to the item listed...

Question 9

Match each statement to the item listed below
a.Accounts receivable
e.Notes receivable
b.Aging method
f.Realized
c.Allowance for Doubtful Accounts
g.Securitization
d.Earned
-Money due the company from another business or individual.

Accepted Answer

The answer of Match each statement to the item listed...

Question 10

Match each statement to the item listed below
a.Accounts receivable
e.Notes receivable
b.Aging method
f.Realized
c.Allowance for Doubtful Accounts
g.Securitization
d.Earned
-Indicates that the earnings process is substantially complete.

Accepted Answer

The answer of Match each statement to the item listed...

Question 11

Match each statement to the item listed below
a.Accounts receivable
e.Notes receivable
b.Aging method
f.Realized
c.Allowance for Doubtful Accounts
g.Securitization
d.Earned
-The packaging of receivables as financial instruments or securities for sale to investors.

Accepted Answer

The answer of Match each statement to the item listed...

Question 12

Select the term that matches each of the following descriptions.
a.Sales Discount
b.Trade Discount
c.Sales Allowance
d.Sales Returns
-Used to induce the customer to keep damaged goods

Accepted Answer

The answer of Select the term that matches each of...

Question 13

Match each statement to the item listed below
a.Bad debt expense
d.Percentage of credit sales
b.Net sales revenue
e.Profitability ratios
c.Nontrade receivables
f.Trade receivables
-Money due from customers purchasing inventory in the ordinary course of business

Accepted Answer

The answer of Match each statement to the item listed...

Question 14

Match each statement to the item listed below
a.Bad debt expense
d.Percentage of credit sales
b.Net sales revenue
e.Profitability ratios
c.Nontrade receivables
f.Trade receivables
-Measure the return the company is earning on sales.

Accepted Answer

The answer of Match each statement to the item listed...

Question 15

MATCHING
Select the term that matches each of the following descriptions.
a.Interest
b.Maturity Value
c.Principal
d.Lender
e.Factoring
f.Fraction of year
g.Maturity date
h.Implicit
i.Maker
-The amount of cash the maker is to pay the payee on the maturity date of the note

Accepted Answer

The answer of MATCHING
Select the term that matches each of...

Question 16

Match each statement to the item listed below
a.Bank credit card
c.Sears card
b.Debit card
d.American Express
-A non-bank credit card.

Accepted Answer

The answer of Match each statement to the item listed...

Question 17

Match each statement to the item listed below
a.Accounts receivable
e.Notes receivable
b.Aging method
f.Realized
c.Allowance for Doubtful Accounts
g.Securitization
d.Earned
-A contra-asset account.

Accepted Answer

The answer of Match each statement to the item listed...

Question 18

Match each statement to the item listed below
a.Bad debt expense
d.Percentage of credit sales
b.Net sales revenue
e.Profitability ratios
c.Nontrade receivables
f.Trade receivables
-Arise from transactions not involving inventory (e.g., interest receivable).

Accepted Answer

The answer of Match each statement to the item listed...

Question 19

Match each statement to the item listed below
a.Accounts receivable
e.Notes receivable
b.Aging method
f.Realized
c.Allowance for Doubtful Accounts
g.Securitization
d.Earned
-Indicates that non-cash resources have been exchanged for cash.

Accepted Answer

The answer of Match each statement to the item listed...

Question 20

Match each statement to the item listed below
a.Bank credit card
c.Sears card
b.Debit card
d.American Express
-Results in an immediate electronic withdrawal from the owner's bank account when used.

Accepted Answer

The answer of Match each statement to the item listed...

Quiz 5: Sales and Receivables

Match each statement to the item listed below a.Bad debt expense d.Percentage of credit sales b.Net sales revenue e.Profitability ratios c.Nontrade receivables f.Trade receivables -A way to estimate bad debt expense.

Select the term that matches each of the following descriptions. a.Sales Discount b.Trade Discount c.Sales Allowance d.Sales Returns -Used to encourage prompt payment

Select the term that matches each of the following descriptions. a.Sales Discount b.Trade Discount c.Sales Allowance d.Sales Returns -Reduction of price granted by the seller for a particular class of customers

Match each statement to the item listed below a.Bank credit card c.Sears card b.Debit card d.American Express -Just a special form of factoring.

Match each statement to the item listed below a.Accounts receivable e.Notes receivable b.Aging method f.Realized c.Allowance for Doubtful Accounts g.Securitization d.Earned -Generally entitle the holder to interest.

Match each statement to the item listed below a.Bank credit card c.Sears card b.Debit card d.American Express -No service charge expense is incurred by the issuer when this card is used.

Match each statement to the item listed below a.Bad debt expense d.Percentage of credit sales b.Net sales revenue e.Profitability ratios c.Nontrade receivables f.Trade receivables -Receivables that the company is not able to collect.

Match each statement to the item listed below a.Accounts receivable e.Notes receivable b.Aging method f.Realized c.Allowance for Doubtful Accounts g.Securitization d.Earned -A way to estimate bad debts.

Match each statement to the item listed below a.Accounts receivable e.Notes receivable b.Aging method f.Realized c.Allowance for Doubtful Accounts g.Securitization d.Earned -Money due the company from another business or individual.

Match each statement to the item listed below a.Accounts receivable e.Notes receivable b.Aging method f.Realized c.Allowance for Doubtful Accounts g.Securitization d.Earned -Indicates that the earnings process is substantially complete.

Match each statement to the item listed below a.Accounts receivable e.Notes receivable b.Aging method f.Realized c.Allowance for Doubtful Accounts g.Securitization d.Earned -The packaging of receivables as financial instruments or securities for sale to investors.

Select the term that matches each of the following descriptions. a.Sales Discount b.Trade Discount c.Sales Allowance d.Sales Returns -Used to induce the customer to keep damaged goods

Match each statement to the item listed below a.Bad debt expense d.Percentage of credit sales b.Net sales revenue e.Profitability ratios c.Nontrade receivables f.Trade receivables -Money due from customers purchasing inventory in the ordinary course of business

Match each statement to the item listed below a.Bad debt expense d.Percentage of credit sales b.Net sales revenue e.Profitability ratios c.Nontrade receivables f.Trade receivables -Measure the return the company is earning on sales.

MATCHING Select the term that matches each of the following descriptions. a.Interest b.Maturity Value c.Principal d.Lender e.Factoring f.Fraction of year g.Maturity date h.Implicit i.Maker -The amount of cash the maker is to pay the payee on the maturity date of the note

Match each statement to the item listed below a.Bank credit card c.Sears card b.Debit card d.American Express -A non-bank credit card.

Match each statement to the item listed below a.Accounts receivable e.Notes receivable b.Aging method f.Realized c.Allowance for Doubtful Accounts g.Securitization d.Earned -A contra-asset account.

Match each statement to the item listed below a.Bad debt expense d.Percentage of credit sales b.Net sales revenue e.Profitability ratios c.Nontrade receivables f.Trade receivables -Arise from transactions not involving inventory (e.g., interest receivable).

Match each statement to the item listed below a.Accounts receivable e.Notes receivable b.Aging method f.Realized c.Allowance for Doubtful Accounts g.Securitization d.Earned -Indicates that non-cash resources have been exchanged for cash.

Match each statement to the item listed below a.Bank credit card c.Sears card b.Debit card d.American Express -Results in an immediate electronic withdrawal from the owner's bank account when used.