Acc291 week 1 quiz - Study guides, Class notes & Summaries
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ACC 291 Week 1 Quiz /ACC291 Week 1 Quiz Questions and Answers Latest Study Guide
- Exam (elaborations) • 4 pages • 2021
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ACC291 /ACC291 Week 1 Quiz 
 
Practice Question 01 
What type of receivable is evidenced by a formal instrument and normally requires the payment of interest? 
 
 
 
An account receivable 
 
 
A note receivable 
 
 
A trade receivable 
 
 
Past-due accounts receivables 
 
Practice Question 03 
Corristan Company purchased equipment and incurred these costs: 
Cash price		$24,000 
Sales taxes		1,200 
Insurance during transit		200 
Annual maintenance costs		____400 
Total costs		$25,800 
 
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