Matching
Match each of the appropriate definitions with correct term.
Premises:
Committing accounts receivable as security for a loan.
Refers to a note maker's inability or refusal to pay a note at maturity.
A method of accounting for bad debts that matches the estimated loss from uncollectible accounts receivable against the sales they helped to produce.
A measure of both the quality and liquidity of accounts receivable that indicates how often, on average, receivables are collected during the period.
The amount that the signer of a note agrees to pay back when the note matures, not including interest.
Selling all or a portion of accounts receivable to a finance company or bank.
The accounting constraint that states that an amount can be ignored if its effect on the financial statements is unimportant to its users.
Amounts owed by customers from credit sales for which payment is required in periodic payments over an extended period of time.
A method of accounting for bad debts that records the loss from an uncollectible account receivable immediately upon determining it is uncollectible.
The day note principal and interest must be repaid.
Responses:
Accounts receivable turnover
Materiality constraint
Direct write-off method
Maturity date
Pledging accounts receivable
Factoring accounts receivable
Allowance method
Installment accounts receivable
Principal of a note
Dishonoring a note
Correct Answer:
Premises:
Responses:
Committing accounts receivable as security for a loan.
Refers to a note maker's inability or refusal to pay a note at maturity.
A method of accounting for bad debts that matches the estimated loss from uncollectible accounts receivable against the sales they helped to produce.
A measure of both the quality and liquidity of accounts receivable that indicates how often, on average, receivables are collected during the period.
The amount that the signer of a note agrees to pay back when the note matures, not including interest.
Selling all or a portion of accounts receivable to a finance company or bank.
The accounting constraint that states that an amount can be ignored if its effect on the financial statements is unimportant to its users.
Amounts owed by customers from credit sales for which payment is required in periodic payments over an extended period of time.
A method of accounting for bad debts that records the loss from an uncollectible account receivable immediately upon determining it is uncollectible.
The day note principal and interest must be repaid.
Premises:
Committing accounts receivable as security for a loan.
Refers to a note maker's inability or refusal to pay a note at maturity.
A method of accounting for bad debts that matches the estimated loss from uncollectible accounts receivable against the sales they helped to produce.
A measure of both the quality and liquidity of accounts receivable that indicates how often, on average, receivables are collected during the period.
The amount that the signer of a note agrees to pay back when the note matures, not including interest.
Selling all or a portion of accounts receivable to a finance company or bank.
The accounting constraint that states that an amount can be ignored if its effect on the financial statements is unimportant to its users.
Amounts owed by customers from credit sales for which payment is required in periodic payments over an extended period of time.
A method of accounting for bad debts that records the loss from an uncollectible account receivable immediately upon determining it is uncollectible.
The day note principal and interest must be repaid.
Responses:
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