The riskiest transaction for a creditor is a(n) Multiple Choice unsecured cred it transaction secured credit...
Bertrand Inc performed services for clients in the amount of $1950 on credit. If this transaction had been posted in error to the Cash account instead of the Accounts Receivable account what correcting entry would be necessary? Multiple Choice O Debit Cach 1950. cred Accounts Receivable $1950 0 Debito Income 1960, cred Cash 1950 0 De Arco Receivable $1950. creditos Income $1.55 0 Debit Accounts Receivable $1,950, ered Play
The debt-to-equity ratio: Multiple Choice Is calculated by dividing book value of secured liabilities by book value of pledged assets. Is a means of assessing the risk of a company's financing structure. Ο Is not relevant to secured creditors. Ο Can always be calculated from information provided in a company's income statement.
How are creditor and investor claims reported on a balance sheet? Multiple Choice The claims of both creditors and investors are liabilities, but only the claims of investors are considered to be long- term. The claims of creditors are reported as liabilities while the claims of investors are recorded as stockholders' equity. The claims of creditors are liabilities and those of investors are assets. The claims of creditors and investors are considered to be essentially equivalent.
Multiple choice question
QUESTION 4 Which of the following statements does describe the "cash rate" most accurately? The cash rate is the interest rate that the RBA charges banks for unsecured overnight loans. The cash rate is the interest rate that banks charge each other for unsecured overnight loans The cash rate is the interest rate that the RBA charges banks for secured overnight loans. The cash rate is the interest rate that banks charge each other for secured overnight...
In connection with a lease transaction, the lessor would not record: Multiple Choice 0 an asset. 0 depreciation. 0 interest revenue. a liability.
MULTIPLE CHOICE
PART II MULTIPLE-CHOICE QUESTIONS (30 Points) 1. a. Although debits increase assets, they also increase revenues b. increase expenses increase owner's equity d. increase liabilities c. 2. a. The right side of a T account is the increase side b. decrease side c. credit side d. debit side 3. a. b. A compound entry is an entry affecting more than one account an entry involving multiple transactions an entry involving more than one date an entry increasing and...
When a company pays $1,900 dividends to its stockholders, the transaction should be recorded as: Multiple Choice O Debit Dividends; Credit Cash. Debit Dividends, credit Accounts Payable. o o Debit Cash, credit Dividends. Debit Retained Earnings, credit Dividends.
An accrued expense occurs when: Multiple Choice O Cash payment (or an obligation to pay cash) occurs before the exp O An expense is recorded at the same time as the cash payment. O The expense is recognized before the payment of cash. O Cash is paid but an expense is never recorded. < Pr On July 1, 2021, Charlie Co. paid $18,000 to Rent An Office for rent covering 18 months from July 2021 through December 2022. What adjusting...
Which of t he following would not be recorded as an accounting transaction? Multiple Choice Issuing stock to owners in exchange for cash Ordering supplies to be delivered next month Selling inventory to customers in exchange for cash to be received next month Paying the bank for a portion of a note payable
Which of the following requires a credit? Multiple Choice Decreases in liabilities Decreases in stockholders' equity Increases to assets Increases to liabilities 2. true or false Under the five-step revenue recognition model, a contract can be written, verbal, or implied. 3.When cash is received in advance of a performance obligation being satisfied, a(n) ______ called _________ is recorded.