HSM 474 Test 1 || Mini Mastery Test: Score High Fast!!

HSM 474 Test 1 || Mini Mastery Test: Score High Fast!!
Cash correct answers Current Asset

Marketable Securities correct answers Current Asset:
short-term, low-risk investments that can be easily sold and converted to cash

Short term stocks, bonds, investments correct answers Current Asset

Accounts Receivable correct answers Current Asset:
The total amount of money owed to a business.

Inventory correct answers Current Asset:
a complete list of items such as property, goods in stock, or the contents of a building.

Supplies correct answers Current Asset

Prepaid Expenses correct answers Current Asset

Land/Property correct answers noncurrent asset

Building correct answers Noncurrent asset

Furniture correct answers Noncurrent asset

Vehicles correct answers Noncurrent Asset

Equitment correct answers Noncurrent Asset

FFE correct answers Noncurrent Asset:
Furniture, Fixtures, and Equipment

PPE correct answers Noncurrent Asset:

Accumulated Deprecation correct answers Noncurrent/Contra Asset:
the total amount of depreciation expense that has been recorded since the purchase of a plant
asset

Long Term Investments, stocks or bonds correct answers Noncurrent Asset

Goodwill correct answers Noncurrent Asset:
When one company buys another

Intellectual Property correct answers Noncurrent Asset:
intangible creative work that is embodied in physical form and includes copyrights,
trademarks, and patents

Allowance for Bad debt correct answers Contra Asset:
A contra asset account, related to accounts receivable, that holds the estimated amount of
uncollectible accounts.