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22. Answer: d. Not sufficient funds A inspect returned by the bank marked “NSF” way that the examine could no be honoured together there were poor funds in the drawer’s account. 23. Answer: b. Maintain idle cash Inc…View the complete answer
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Transcribed image text: 22. A examine returned by the bank significant "NSF" method no organization fee. B. No signature found. C. No satisfactorily filled out. Not adequate funds. D. A. 23. I m sorry of the following is no a an easy principle that cash management? increase the speed of collection on receivables. B. Maintain idle cash. C. Store inventory level low, d. Delay payment that liabilities. 24, The hatchet "receivables" refers to amounts due from people or companies. B. Merchandise come be collected from individuals or companies. C. Cash come be payment to creditors. D. Cash to be paid to debtors. A. 25. The cost recognition a. Needs that all credit transaction losses it is in recorded when an individual customer cannot pay. B. Necessitates the record of an estimated amount for bad debts. C. Outcomes in the recording of a known amount for negative debt losses. D. Is not affiliated in the decision of as soon as to price a credit loss. 26. Bad Debt cost is considered an avoidable price in doing organization on a credit transaction basis. An internal regulate weakness. A. B. A crucial risk the doing service on a credit transaction basis. D. C. Avoidable unless there is a recession. Two methods of bookkeeping for uncollectible accounts are the a. Allowance an approach and the accrual method. B. Allowance technique and the net realizable method. C. Direct write-off method and the accumulation method. D. Direct write-off an approach and the pin money method. 27. If one account is accumulated after having actually been formerly written off the allowance account must be debited. B. Just the control account needs to it is in credited. Both earnings statement and balance sheet accounts will be affected. D. There will certainly be both a debit and also a credit to account receivable. 28. A. C. As soon as calculating interest on a promissory note with the maturity day stated in regards to days, 29. The a. Device pays much more interest if 365 days room used instead of 360. B. Machine pays the same interest nevertheless if 365 or 360 days are used. C. Payee receives more interest if 360 days space used instead of 365. D. Payee receives much less interest if 360 days space used instead of 365.