Which of the following pertains to the characteristics of cash and cash equivalents account?

MFar

Quiz
•
Other
•
University
•
Easy
Mintsy Mintsy
Used 10+ times
FREE Resource
50 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An amount deposited in a bank
A money set aside for the settlement of long-term debt
Unrestricted in use for current operations
Available for the purchase of any type of property, plant, and equipment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the treatment for the interest paid by the bank to the depositor’s account?
A book reconciling item that is added to the book balance.
A book reconciling item that is deducted from the book balance.
A bank reconciling item that is deducted from the book balance.
A bank reconciling item that is added to the book balance.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Burr Company reported the checkbook balance on December 31, 2024 at P5,000,000 and held the following items on the same date:
What amount should be reported as cash on December 31, 2024?
4,900,000
5,300,000
6,400,000
5,700,000
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Visayas Company provided the following data for December:
What is the adjusted cash in bank?
1,375,000
1,310,000
1,322,000
935,00
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following methods of accounting for doubtful accounts is permitted under GAAP?
Direct write-off method
Allowance method
Both A and B
Neither A nor B
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Statement I: The interest rate to be used to compute for the interest income on a long-term receivable is the ____.
Statement II: The interest rate to be used to compute for the interest receivable on a long-term receivable is the ____.
Stated interest rate; Market interest rate
Stated interest rate; Stated interest rate
Market interest rate; Market interest rate
Market interest rate; Stated interest rate
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Brownie Company provided the following accounts abstracted from the unadjusted trial balance at year-end:
What amount should be recognized as doubtful accounts expense for the current year?
640,000
610,000
160,000
130,000
Create a free account and access millions of resources
Similar Resources on Wayground
50 questions
Clash of Accounting (CoA) Season 2

Quiz
•
11th Grade - University
50 questions
FINANCIAL MANAGEMENT I

Quiz
•
University
51 questions
Customer Relationship Management

Quiz
•
University
50 questions
AP Comparative Politics Final Term Quiz

Quiz
•
12th Grade - University
50 questions
Accounting Challenge

Quiz
•
University
50 questions
ETR 2633 CHAPTER 1 INTRODUCTION TO BUSINESS PLAN

Quiz
•
University
51 questions
Auditing Study Guide

Quiz
•
University
50 questions
Financial Management III

Quiz
•
University
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade