Acc 291 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 
 
What...
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ACC 291 Week 3 Quiz /ACC291 Week 3 Test Questions and Answers Latest Study Guide
- Exam (elaborations) • 4 pages • 2021
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- $8.95
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Acc 291 Week 3 Quiz 
 
Practice Question 01 
The time period for classifying a liability as current is one year or the operating cycle, whichever is 
 
 
 
shorter. 
 
 
probable. 
 
 
possible. 
 
 
longer. 
 
Practice Question 05 
Which one of the following is not a typical current liability? 
 
 
 
Interest payable 
 
 
Mortgages payable 
 
 
Current maturities of long-term debt 
 
 
Salaries payable 
 
	 
Practice Question 10 
Buttner Company borrows $88,500 on September 1, 2017, f...
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