Answer the following statements true (T) or false (F)
1) The two major types of receivables are interest receivable and taxes receivable.
2) The three major types of receivables are accounts receivable, notes receivable, and other receivables.
3) Accounts receivable are also called trade receivables.
4) The collection period of accounts receivable is usually long, and therefore, it is classified as a long-term asset on the balance sheet.
5) Accounts receivable are usually collected within a short period of time and are therefore reported as a current liability on the balance sheet.
1) FALSE
2) TRUE
3) TRUE
4) FALSE - Accounts receivable are usually collected within a short period of time and are therefore
reported as a current asset on the balance sheet.
5) FALSE - Accounts receivable are usually collected within a short period of time and are therefore
reported as a current asset on the balance sheet.
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The primary objectives of investing in temporary investments is to
a. all of these b. realize gains from increases in market price of the securities c. receive dividends d. earn interest revenue
Tom Jones, a management accountant, was faced with an ethical conflict at the office. According to the Institute of Management Accountants' (IMA) Statement of Professional Practice, the first action Tom should pursue is to:
a. follow his organization's established policies on the resolution of such conflict. b. contact the local newspaper. c. contact the company's audit committee. d. consult an attorney.
Which element below is explained by the extent to which employees perceive that they are valued and cared for by the organization, as delivered by middle managers?
A. perceived organizational support B. divine administration C. organizational appreciation D. sense of support for the organization
The legal doctrine of strict product liability is controversial because it unfairly holds a business accountable for paying damages in cases where it was not at fault.
Answer the following statement true (T) or false (F)