____ are investments in the form of debt or equity that the management of the company wants to actively purchase and sell to make profit in the short term with securities they believe are going to increase in price, these securities can be found on the balance sheet at the fair value on the balance sheet date.
Review of Week 11&12

Quiz
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Other
•
University
•
Medium

Rebecc Wang
Used 2+ times
FREE Resource
6 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 3 pts
Deposit in transit
Trading securities
Miscellaneous expense
Outstanding checks
2.
MULTIPLE CHOICE QUESTION
1 min • 3 pts
An ____ is a contra account that nets against the total receivables presented on the balance sheet to reflect only the amounts expected to be paid.
Accounts receivable
Accumulated depreciation
allowance for doubtful accounts
Unearned revenue
3.
MULTIPLE CHOICE QUESTION
45 sec • 3 pts
A _____ is a person who borrows money on a promissory note.
payee
maker
lender
4.
MULTIPLE CHOICE QUESTION
1 min • 3 pts
_____ are an example of a bank charge that is made for payment of a note at some point prior to maturation.
Interest-bearing notes
Proceeds of the discounted note
Bank discounts
Note receivables
5.
MULTIPLE CHOICE QUESTION
1 min • 3 pts
A ____ is a potential financial liability that may occur in the future. It's included in a financial statement if the liability is likely to occur and its amount can be accurately estimated.
current liability
contingent liability
note payable
non-current liability
6.
MULTIPLE CHOICE QUESTION
1 min • 3 pts
_____ is calculated by dividing your net credit sales by your average accounts receivable.
Debt ratio
Accounts receivable turnover ratio
Quick ratio
Days' sales in receivables
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