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ACCT 3367 Q&A Bundle
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ACCT 3367 CH 7 Practice Questions and Correct Answers
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Restricted Cash companies segregate legally restricted cash for reporting purposes. Bank Overdrafts usually reported as a liability but maybe offset against other cash accounts if at same bank Cash equivalents investments that are highly liquid and readily convertible to cash within 3 months Rece...
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Add to cartRestricted Cash companies segregate legally restricted cash for reporting purposes. Bank Overdrafts usually reported as a liability but maybe offset against other cash accounts if at same bank Cash equivalents investments that are highly liquid and readily convertible to cash within 3 months Rece...
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ACCT 3367 Final Exam Questions with Correct Answers
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What are the most liquid assets? cash ex: coin, currency, deposits at the bank, money orders, certified checks, cashier's checks, bank drafts, & savings accounts What are cash equivalents? - short-term, highly liquid investments ex: treasury bills, commercial paper, money market funds What is r...
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Add to cartWhat are the most liquid assets? cash ex: coin, currency, deposits at the bank, money orders, certified checks, cashier's checks, bank drafts, & savings accounts What are cash equivalents? - short-term, highly liquid investments ex: treasury bills, commercial paper, money market funds What is r...
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ACCT 3367 Practice Test Questions with Correct Answers
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Types of PP&E: 1. Land (not depreciated) 2. Buildings 3. Equipment 4. Land Improvements Acquisition Cost of PP&E Include all costs necessary to get the asset ready for its intended use. Building Cost of construction of building Land Cost of land fill and clearing Land Delinquent real estate taxe...
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Add to cartTypes of PP&E: 1. Land (not depreciated) 2. Buildings 3. Equipment 4. Land Improvements Acquisition Cost of PP&E Include all costs necessary to get the asset ready for its intended use. Building Cost of construction of building Land Cost of land fill and clearing Land Delinquent real estate taxe...
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ACCT 3367 Exam 1 Questions and Correct Answers
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deduction from sales in income statement If a company employs the gross method of recording accounts receivable from customers, then sales discounts taken should be reported as the amount of the discount is not material Assuming that the ideal measure of short-term receivables in the balance sheet ...
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Add to cartdeduction from sales in income statement If a company employs the gross method of recording accounts receivable from customers, then sales discounts taken should be reported as the amount of the discount is not material Assuming that the ideal measure of short-term receivables in the balance sheet ...
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