Which of the following accounts does NOT belong on the asset side of a balance sheet?
A) marketable securities
B) accounts receivable
C) cash
D) common stock
D
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Assignees should promptly notify the promisor of an assignment because the promisor who renders performance to the assignor without notice of the assignment:
A. creates a novation. B. has no further liability under the contract. C. can be sued by the assignee for nonperformance. D. is still liable under the contract.
A statement on your behalf by someone who is accepted as an expert by the audience is called what?
A) Qualification B) Image enhancement C) Euphemism D) Credential E) Endorsement
A ________ is a document explaining the reasons for the difference between a depositor's Cash account in the ledger and the depositor's cash balance in its bank account.
A) bank statement B) deposit receipt C) bank reconciliation D) remittance advice
Which of the following is not one of the three criteria for recognition of a liability?
a. The obligation involves a probable future sacrifice of resources at a specified or determinable date. b. The firm is required to make a cash payment for the goods or services. c. The firm has little or no discretion to avoid the transfer. d. The transaction or event giving rise to the liability has already occurred.