ACC MC Exam 2 Ch 3,4 Questions & Answers 2024/2025
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ACC MC
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ACC MC
ACC MC Exam 2 Ch 3,4 Questions & Answers 2024/2025
Which of the following is a subclassification of assets
in the balance sheet?
a. Cash and cash equivalents
b. Revenue
c. Current assets
d. Disposable assets - ANSWERSc. Current assets
Current assets include cash and all other assets ex...
ACC MC Exam 2 Ch 3,4 Questions &
Answers 2024/2025
Which of the following is a subclassification of assets
in the balance sheet?
a. Cash and cash equivalents
b. Revenue
c. Current assets
d. Disposable assets - ANSWERSc. Current assets
Current assets include cash and all other assets expected to become cash or be consumed:
a. Within one year
b. Within one operating cycle
c. Within one year or one operating cycle, whichever is shorter
d. Within one year or one operating cycle, whichever is longer - ANSWERSd. Within one year or one
operating cycle, whichever is longer
Which of the following is most likely to be reported as a long-term asset?
a. Accounts receivable
b. Buildings
c. Prepaid rent
d. Inventories - ANSWERSb. Buildings
Which of the following represents tangible, long-lived assets used in the operations of the business?
a. Current assets
b. Investments
c. Property, plant, and equipment
d. Intangible assets - ANSWERSc. Property, plant, and equipment
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