Homework Answers
Current Assets are the short term assets such as cash, debtors, inventory etc. These are meant to be consumed within the normal operating cycle of the company or generally within one year.
Investment in plants and equipment are known as fixed assets
The correct answer is
Assets that will be used or consumed within one year or period
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The classification "Current Assets" refers to which one of the following? A measure of current assets...
Which of the following best describes the term "current assets"?
Which of the following best describes the term "current assets"? a. Assets expected to be converted into cash within one year or one operating cycle, whichever is longer. b. The amount of claim that the owners have in the business in the current year. c. The cumulative profits earned by a business less any dividends distributed in the current period. d. The amount of total profits earned by a business since it began operations plus all other resources.
Depreciation refers to which one of the following? The amount of money that is lost over...
Depreciation refers to which one of the following? The amount of money that is lost over a period when services are underutilized. The amount of money still owed on a tangible asset, minus the amount of expenses spent to facilitate the utilization of the asset (utilities, personnel, enabling assets, etc.) An estimate of how much of a tangible asset has been used during an accounting period: considered an expense that requires the use of cash deducted from the operations revenue....
Current assets are expected to be used up or converted to cash within one year or...
Current assets are expected to be used up or converted to cash within one year or an operating period. Why does the classification of current versus non-current assets matter? Give concrete examples of current and non-current assets in your response. Specifically mention where this may or may not be helpful to (a) management, (b) a leading institution, (c) potential investors/ stockholders.
Bad debt refers to which one of the following? The amount of an asset used up...
Bad debt refers to which one of the following? The amount of an asset used up during a specific accounting period. Investments made by the organization that lose money, but still have balances due. The amount of money owed for services provided, excluding charity care, that is not expected to be recovered. The amount of money owed for services provided, including charity care, that is not expected to be recovered.
15. Which of the following statements is correct? a. All current deferred tax liabilities and assets...
15. Which of the following statements is correct? a. All current deferred tax liabilities and assets shall be offset and presented as a single amount on the balance sheet. b. Deferred tax assets related to carryforwards shall be classified as current or noncurrent on the balance sheet based on their expected date of reversal. c. All current and noncurrent deferred taxes shall be offset and presented as a single amount on the balance sheet. d. Deferred tax liabilities and assets...
Which of the following terms appropriately refers to the difference between the assets and liabilities of...
Which of the following terms appropriately refers to the difference between the assets and liabilities of a not-for-profit organization? Select one: a. Stockholders’ equity. b. Owners’ equity. c. Net assets. d. All of the above. e. None of the above.
Cash and cash equivalents refers to which one of the following? Cash that is invested in...
Cash and cash equivalents refers to which one of the following? Cash that is invested in bonds and stocks. Money due for services provided. Cash that is invested in interest bearing accounts. Actual money on hand as well as savings and checking accounts.
The following classification scheme typically is used in the preparation of a balance sheet: a. Current...
The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments and funds c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Contributed capital i. Retained earnings Using the letters above and the format below, indicate the balance sheet category from the dropdown listing in which an entity typically would place each of the following items. Contra accounts should be indicated by the...
The following are the typical classifications used in a balance sheet: b. Current assets Investments Property,...
The following are the typical classifications used in a balance sheet: b. Current assets Investments Property, plant, and equipment Intangible assets Other assets f. Current liabilities Long-term liabilities h. Paid-in capital i. Retained earnings d. Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) 1. 10. 2. 11. 3. 12. 4. 13. 5. Equipment Accounts...
Here are some questions I don't know how to answer, please help Working capital refers to:...
Here are some questions I don't know how to answer, please
help
Working capital refers to: O the amount of cash in the bank. O funds which will be received during the 6 months following the calculation. O the difference between current assets and current liabilities. O the amount of money needed to pay for operations during a 12-month period One common solution to financing problems for a small business is: O developing new packaging. O doing a customer survey....
Depreciation refers to which one of the following? The amount of money that is lost over a period when services are underutilized. The amount of money still owed on a tangible asset, minus the amount of expenses spent to facilitate the utilization of the asset (utilities, personnel, enabling assets, etc.) An estimate of how much of a tangible asset has been used during an accounting period: considered an expense that requires the use of cash deducted from the operations revenue....
Bad debt refers to which one of the following? The amount of an asset used up during a specific accounting period. Investments made by the organization that lose money, but still have balances due. The amount of money owed for services provided, excluding charity care, that is not expected to be recovered. The amount of money owed for services provided, including charity care, that is not expected to be recovered.
Cash and cash equivalents refers to which one of the following? Cash that is invested in bonds and stocks. Money due for services provided. Cash that is invested in interest bearing accounts. Actual money on hand as well as savings and checking accounts.
The following classification scheme typically is used in the preparation of a balance sheet: a. Current assets b. Investments and funds c. Property, plant, and equipment d. Intangible assets e. Other assets f. Current liabilities g. Long-term liabilities h. Contributed capital i. Retained earnings Using the letters above and the format below, indicate the balance sheet category from the dropdown listing in which an entity typically would place each of the following items. Contra accounts should be indicated by the...
The following are the typical classifications used in a balance sheet: b. Current assets Investments Property, plant, and equipment Intangible assets Other assets f. Current liabilities Long-term liabilities h. Paid-in capital i. Retained earnings d. Required: For each of the following balance sheet items, use the letters above to indicate the appropriate classification category. (If the item is a contra account, select the appropriate letter with a minus sign.) 1. 10. 2. 11. 3. 12. 4. 13. 5. Equipment Accounts...
Here are some questions I don't know how to answer, please
help
Working capital refers to: O the amount of cash in the bank. O funds which will be received during the 6 months following the calculation. O the difference between current assets and current liabilities. O the amount of money needed to pay for operations during a 12-month period One common solution to financing problems for a small business is: O developing new packaging. O doing a customer survey....
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