Acct 130 Study guides, Class notes & Summaries
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Test Bank Chapter 7 Cash and Receivables.
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CHAPTER 7

CASH AND RECEIVABLES

IFRS questions are available at the end of this chapter.

TRUE-FALSE—Conceptual
Answer	No.	Description
	T	1.	Items considered cash.
	F	2.	Items considered cash.
	F	3.	Items considered cash.
	F	4.	Cash equivalents definition.
	F	5.	Bank overdrafts.
	T	6.	Cash equivalents.
	F	7.	Classification of receivables.
	F	8.	Items considered trade receivables.
	T	9.	Trade discount uses.
	T	10.	Sales discounts. 
	T	11.	Valuation of receivables.
	F	12.	Percentage-of-receivab...
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Exam (elaborations) Liberty University ACCT 370 Exam 1 Complete solution
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Liberty University ACCT 370 Exam 1 Complete solution 
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solutions 
1. 1. 2. A 3-for-1 stock split will reduce the per share par value and will 3. 4. 
5. 2. 6. accounting errors or irregularities can occur for what reason? 7. 8. 
9. 3. 
10. Accrual accounting net income can differ from operating cash flows for 
all of the following reasons except: 
A) future pension and healthcare benefits. 
B) estimates of uncollectible accou...
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Exam (elaborations) Liberty University ACCT 370 Exam 1 Complete solution
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Exam (elaborations) Liberty University ACCT 370 Exam 1 Complete solution 
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solutions 
1. 1. 2. A 3-for-1 stock split will reduce the per share par value and will 3. 4. 
5. 2. 6. accounting errors or irregularities can occur for what reason? 7. 8. 
9. 3. 
10. Accrual accounting net income can differ from operating cash flows for 
all of the following reasons except: 
A) future pension and healthcare benefits. 
B) estimates of...
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ACCT 201A Exam II Review test solution docs
- Exam (elaborations) • 39 pages • 2020
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ACCT 201A Exam II Review test solution docs 
 
Ch. 5 
	1.	A generally accepted method of valuation is 
1.	trading securities at market value. 
2.	accounts receivable at net realizable value. 
3. 	inventories at current cost. 
a.	1 
b.	2 
c.	3 
d.	1 and 2 
 
	2.	Fulton Company owns the following investments: 
Trading securities (fair value)	$160,000 
Available-for-sale securities (fair value)	70,000 
Held-to-maturity securities (amortized cost)	94,000 
Fulton will report investments in its curre...
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Exam (elaborations) Liberty University ACCT 370 Exam 3 Complete solution
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Liberty University ACCT 370 Exam 3 Complete solution 
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solutions 
1. Under IFRS, deferred taxes: 
2. Which of the following items used for resolving intra-firm comparisons 
is not generally disclosed? 
3. Which of the following does not properly describe the presentation by the lessor 
under ASC 842? 
4. Which of the following statements is correct with respect to the use of fair value 
accounting for liabilities under IFRS?...
And that's how you make extra money
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Chapter 1--Introduction to.docx
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Chapter 1--Introduction to Accounting and Business
Student: ___________________________________________________________________________
1. The main objective of a not-for-profit business is not to make a profit. 
True False
 
2. An example of an external user of accounting information is the federal government. 
True False
 
3. A corporation is a business that is legally separate and distinct from its owners. 
True False
 
4. About 90% of the businesses in the United States are organiz...
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ACCT 505 WEEK 8: FINAL EXAM GUIDE
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ACCT 505 WEEK 8: FINAL EXAM GUIDE 
ACCT 505 WEEK 8: FINAL EXAM GUIDE 
1. (TCO E) Complying with regulations is a(n) (Points : 5) 
 batch-level activity. 
 product-level activity. 
 unit-level activity. 
 organization sustaining activity. 
2. (TCO G) Given the following data, what would ROI be? 
Sales $90,000 
Net operating income $18,000 
Contribution margin $40,000 
Average operating assets $100,000 
Stockholder's equity $250,000 
(Points : 5) 
 7.2% 
 20.0% 
 18.0% 
 44.4% 
Page 2 
1. (TCO C)...
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ACCT 505 FINAL EXAM GUIDE (NEW) SET 3
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ACCT 505 FINAL EXAM GUIDE 
(NEW) SET 3 
(TCO E) Preparing purchase orders is a(n) (Points : 5) 
 batch-level activity. 
 product-level activity. 
 unit-level activity. 
 organization sustaining activity. 
2. (TCO G) Given the following data, what would ROI be? 
Sales $70,000 
Net operating income $10,000 
Contribution margin $20,000 
Average operating assets $50,000 
Stockholder's equity $25,000 
(Points : 5) 
 28.6% 
 20.0% 
 40.0% 
 50.0% 
3. (TCO C) Heckaman Corporation produces an...
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ACCT 505 FINAL EXAM.
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ACCT 505 FINAL EXAM. 
Question 1.1. (TCO E) Installing a custom logo on a boat is a(n) (Points : 10) 
 batch-level activity. 
 product-level activity. 
 unit-level activity. 
 organization sustaining activity. 
Question 2.2. (TCO G) Given the following data, what would ROI be? 
Sales $70,000 
Net operating income $10,000 
Contribution margin $20,000 
Average operating assets $50,000 
Stockholder's equity $25,000 
(Points : 10) 
 28.6% 
 20.0% 
 40.0% 
 50.0% 
Page 2 
Question 1.1. (TCO C) Aziz ...
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Chapter 9: Business Analytics_ Data Analysis _ Decision Making 5th Edition Albright
- Exam (elaborations) • 34 pages • 2020
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1. The null hypothesis usually represents the:
a. theory the researcher would like to prove. b. preconceived ideas of the researcher
c. perceptions of the sample population d. status quo

2. In statistical analysis, the burden of proof lies traditionally with the:
a. alternative hypothesis b. null hypothesis
c. analyst d. facts presented to the statistical analyst

3. The hypothesis that an analyst is trying to prove is called the:
a. elective hypothesis b. alternative hypothesis
c. optional hyp...
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