Which of the following is not normally increased by a cash inflow transaction? a) Advances from Customers b.) Unearned Revenue from Customer Loyalty Program c.)Unearned Revenue from Warranty Contracts d.)Deposits on Returnable Containers
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- Which of the following is not normally decreased by a cash outflow transaction? a. Payroll Withholdings Payable b. Accrued Expense c. Deposits on Returnable Containers d. Deferred RevenuesCash received from loans is a deposit other than customer payments. Group of answer choices True False3. Which of the following is inappropriate aggregation? A. Cash and cash equivalents (Cash on hand and time deposits) B. Trade. and other receivables (Notes receivable and advances to employees) C. Trade and other payables (Notes and bonds payable) D. Provisions (Liability from pending litigation and purchase
- The measure of a company’s ability to collect cash from its customers who purchase onaccount is thea. accounts payable turnover.b. cash conversion cycle.c. accounts receivable turnover.d. days’ payable outstanding.Deposits other than customer payments are entered using: a. Receive Payments b. Pay Bills c. Bank Deposit d. All of the aboveWhen a depositor can take out more than the amount of funds, he/she has within an account is known as: O a. Discounted Bill of Exchange O b. Overdraft Facility OC. Term Loan O d. Money at call
- What is the main purpose of accounts receivable in factoring? a. To meet immediate cash needs of the business b. To create an additional guarantee of collection c. To invest accounts receivable in another business d. To establish a legal proof for future useThe main purpose of factoring accounts receivable is a. To invest accounts receivable in another business b. To meet immediate cash needs c. To create an additional guarantee of collection d. To establish a legal proof for future useWhat are two methods of recording accounts receivabletransactions when a cash discount situation is involved?Which is more theoretically correct? Which is used inpractice more of the time? Why?
- What is the main purpose of factoring in accounts receivables? a. To meet immediate cash needs of the business b. To create an additional guarantee of collection c. To invest accounts receivable in another business d. To establish a legal proof for future useWhen converting from cash basis to accrual basis accounting, which of the following adjustments should be made to cash receipts from customers to determine accrual basis service revenue. a. Subtract ending accounts receivable. b. Subtract beginning unearned service revenue. c. Add ending accounts receivable. d. Add cash sales.Which of the following is a method to generate cash from accounts receivable?a. Assignmentb. Factoringc. Assignment and factoringd. Assignment, factoring and discounting