, Business - Accounting II of VI pages
Circle the letter of the Definition that corresponds to the displayed Term.
1. Percent of Accounts Receivable Method
A: A promissory note signed by a business and given to a creditor is entered into the books as a NOTE
B: A Promissory note that a business accepts from a customer is entered in the business's books as a
C uses an analysis of accounts receivable to estimate the amount that will be uncollectible
D: The percent of the principle that is due for the use of the funds secured by a note
2. Dishonored note
A A note that is not payed when due.
B: Recording uncollectible account expenses only when an amount is actually known to be uncollectible
C: The person or business to whom the amount of a note is payable
D: The amount that is due on the maturity date of a note
3. Allowance method
A: A Promissory note that a business accepts from a customer is entered in the business's books as a
B Crediting the estimated value of uncollectible accounts to a contra account
C: A written and signed promise to pay a some of money at a specified time
D: The person or business to whom the amount of a note is payable
4. Book value of Accounts Receivable
A: The original amount of a note, some times referred to the face amount
B The difference between the balance of ACCOUNTS RECEIVABLE and its contra account,
C: The amount that is due on the maturity date of a note
D: A written and signed promise to pay a some of money at a specified time
5. Interest rate
A: Analyzing accounts receivable according to when they are due
B: Crediting the estimated value of uncollectible accounts to a contra account
C: The length of time from the signing date to the maturity date, usually expressed as the number of days,
D The percent of the principle that is due for the use of the funds secured by a note
6. Book value
A: The date on which the principal is due to be repaid
B The difference between an asset's account balance and its related contra account balance
C: The difference between the balance of ACCOUNTS RECEIVABLE and its contra account,
D: The person or business to whom the amount of a note is payable
Business - 2024/25 2024/2025 Edition
Circle the letter of the Definition that corresponds to the displayed Term.
1. Percent of Accounts Receivable Method
A: A promissory note signed by a business and given to a creditor is entered into the books as a NOTE
B: A Promissory note that a business accepts from a customer is entered in the business's books as a
C uses an analysis of accounts receivable to estimate the amount that will be uncollectible
D: The percent of the principle that is due for the use of the funds secured by a note
2. Dishonored note
A A note that is not payed when due.
B: Recording uncollectible account expenses only when an amount is actually known to be uncollectible
C: The person or business to whom the amount of a note is payable
D: The amount that is due on the maturity date of a note
3. Allowance method
A: A Promissory note that a business accepts from a customer is entered in the business's books as a
B Crediting the estimated value of uncollectible accounts to a contra account
C: A written and signed promise to pay a some of money at a specified time
D: The person or business to whom the amount of a note is payable
4. Book value of Accounts Receivable
A: The original amount of a note, some times referred to the face amount
B The difference between the balance of ACCOUNTS RECEIVABLE and its contra account,
C: The amount that is due on the maturity date of a note
D: A written and signed promise to pay a some of money at a specified time
5. Interest rate
A: Analyzing accounts receivable according to when they are due
B: Crediting the estimated value of uncollectible accounts to a contra account
C: The length of time from the signing date to the maturity date, usually expressed as the number of days,
D The percent of the principle that is due for the use of the funds secured by a note
6. Book value
A: The date on which the principal is due to be repaid
B The difference between an asset's account balance and its related contra account balance
C: The difference between the balance of ACCOUNTS RECEIVABLE and its contra account,
D: The person or business to whom the amount of a note is payable
Business - 2024/25 2024/2025 Edition
