Question

Question 21 What are the results of the physical count are compared to? Not yet answered Marked out of 1.00 Select one: a. last year's count P Flag question O b. the computer (or book) count c. balance sheet value O d. last quarter's count Question 22 Not yet answered How is a formal promissory note in acknowledgment of a customer's debt classified? Marked out of 1.00 Select one: O a. as a note receivable Flag question O b. as a loan O c. as an account receivable d. as a long-term receivable Question 23 Which of the following statements regarding voting rights is NOT true? Not yet answered Marked out of 1.00 Select one: a. Preferred stock generally does not carry voting rights. Flag question b. Shareholders generally get to vote on who is part of the corporate Board of Directors. c. Corporate shareholders are prohibited from casting their vote online. O d. Generally each share of common stock equals one vote.

Answer 1

1. The physical count are compared to (b) the computer (or book) count as to match the physical inventory and the inventoryin the books.

2. (b) Formal promissory note in acknowledgement of a customer's debt to be classified as a loan as a promissory note is a financial instrument that contains a written promise by one party (the note's issuer or maker) to pay another party (the note's payee) a definite sum of money, either on demand or at a specified future date.

3. (c) Corporate shareholders are prohibited from casting their votes online as they are given option of e-voting.

4. (c) Amortization is a process of paying off a debt over time through regular payments.

5. Another name for balance sheet is (c) statement of financial position.

6. Employees would use a company's financial statement for (d). all of these answers