Matching
Match the term and the explanation.Not all explanations will be used.
Premises:
Principal
Factoring
Allowance for doubtful accounts
Non-trade receivables
Aging of accounts receivable
Percent of credit sales method
Income smoothing
Trade receivables
Responses:
What is achieved when a company deliberately reports high bad debts in good years and low bad debts in bad years.
The account in which the estimated amount of accounts receivable expected to be uncollectible is recorded.
When a company increases the amount of accounts receivable by adding the interest earned as accounts age without being collected.
A method of estimating uncollectible debts by forecasting the probability of not collecting late accounts.
Credit that a company receives when one good is exchanged for another.
Selling accounts receivable to another company for immediate cash.
How much money you can expect to earn over a period of time selling your goods.
Receivable accounts that are not part of a company's day-to-day business
Also known as accounts receivable.
The amount of money lent.
A method of estimating uncollectible debts by looking at the historical average of credit sales not collected.
Giving customers a longer than normal time to pay in order to increase orders.
The interest earned by money over a period of time.
The terms and time period associated with a loan.
Correct Answer:
Premises:
Responses:
What is achieved when a company deliberately reports high bad debts in good years and low bad debts in bad years.
The account in which the estimated amount of accounts receivable expected to be uncollectible is recorded.
When a company increases the amount of accounts receivable by adding the interest earned as accounts age without being collected.
A method of estimating uncollectible debts by forecasting the probability of not collecting late accounts.
Credit that a company receives when one good is exchanged for another.
Selling accounts receivable to another company for immediate cash.
How much money you can expect to earn over a period of time selling your goods.
Receivable accounts that are not part of a company's day-to-day business
Also known as accounts receivable.
The amount of money lent.
A method of estimating uncollectible debts by looking at the historical average of credit sales not collected.
Giving customers a longer than normal time to pay in order to increase orders.
The interest earned by money over a period of time.
The terms and time period associated with a loan.
Premises:
What is achieved when a company deliberately reports high bad debts in good years and low bad debts in bad years.
The account in which the estimated amount of accounts receivable expected to be uncollectible is recorded.
When a company increases the amount of accounts receivable by adding the interest earned as accounts age without being collected.
A method of estimating uncollectible debts by forecasting the probability of not collecting late accounts.
Credit that a company receives when one good is exchanged for another.
Selling accounts receivable to another company for immediate cash.
How much money you can expect to earn over a period of time selling your goods.
Receivable accounts that are not part of a company's day-to-day business
Also known as accounts receivable.
The amount of money lent.
A method of estimating uncollectible debts by looking at the historical average of credit sales not collected.
Giving customers a longer than normal time to pay in order to increase orders.
The interest earned by money over a period of time.
The terms and time period associated with a loan.
Responses:
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