Quiz AKM IKI-5

What is meant by accounts receivable?

• Money received by the company from customers due to the sale of goods or services

• Money that the company owes to suppliers

• Money that the company has in cash

• Money received by the company from investments

• Money deposited by shareholders

According to PSAK No. 9, accounts receivable includes receivables arising from...

• Loans from banks

• Interest payments on loans

• Payments of long-term debt

• Sale of shares

• Sale of products or provision of services in the normal course of business

What is the purpose of internal control of accounts receivable?

• Increase sales

• Reduce administrative costs

• Ensure safe cash receipts

• Improve production efficiency

• Reduce tax burden

The main steps in the internal control of accounts receivable include...

• Allowing accountants to handle cash

• Recording all transactions manually

• Using locked boxes at the bank for direct payments from customers

• Combining the accounting and cashier departments

• Keeping all receivables in one account

The main risk in accounts receivable accounting is...

• Decrease in investment value

• Default resulting in uncollectible receivables loss

• Excessive profit

• Reduction in company revenue

• Increase in long-term debt

How are uncollectible receivables recognized in accounting?

• As other income

• As a reduction of sales revenue

• As a fixed asset that must be sold

• As an expense when the receivable is declared uncollectible due to the debtor's bankruptcy

• As a cash reserve for the future

What is meant by estimated uncollectible receivables?

• Estimated cost of goods sold

• Estimated amount of receivables that cannot be collected at the end of the accounting period

• Estimated amount of cash available at the end of the period

• Process of writing off receivables

• Estimated profit earned from the sale of goods

What happens if accounts receivable are truly uncollectible?

• The company will write off the receivables with management's approval

• Receivables are paid by the company's management

• Receivables are transferred to accounts payable

• Receivables are converted into company shares

• Receivables are handed over to a third party for collection

What is meant by the nominal method in estimating uncollectible receivables?

• Calculating uncollectible receivables based on the value of receivables that have been paid

• Calculating uncollectible receivables based on a certain percentage of credit sales

• Calculating uncollectible receivables based on the amount of payments received

• Calculating uncollectible receivables based on the amount of debts due

• Calculating uncollectible receivables based on market analysis

What should be done regarding the accounts receivable balance that is uncollectible from the previous period?

• Add the balance to the current period's profit

• Remove the balance from the financial statements

• Estimate the uncollectible accounts receivable that should be recorded in the current period

• Add the balance to the company's equity

• Receive direct payment from customers