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BUS 212 WEEK 1 QUIZ / BUS212 WEEK 1 QUIZ: GRADED A | 100% CORRECT |UNIVERSITY OF PHOENIX $8.49   Add to cart

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BUS 212 WEEK 1 QUIZ / BUS212 WEEK 1 QUIZ: GRADED A | 100% CORRECT |UNIVERSITY OF PHOENIX

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BUS 212 WEEK 1 QUIZ / BUS212 WEEK 1 QUIZ: GRADED A | 100% CORRECT |UNIVERSITY OF PHOENIXBUS 212 WEEK 1 QUIZ / BUS212 WEEK 1 QUIZ: GRADED A | 100% CORRECT |UNIVERSITY OF PHOENIX

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  • February 27, 2021
  • 2
  • 2020/2021
  • Exam (elaborations)
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BUS 212 WEEK 1 QUIZ
What type of receivable is evidenced by a formal instrument and normally requires
the payment of interest?
A note receivable


When is a receivable recorded by a service organization?
When service is provided on account


At what value are accounts receivable reported on the balance sheet?
Cash (net) realizable value


Short-term notes receivable are reported at their cash (net) realizable value.
True


Which one of these statements about promissory notes is incorrect?
A promissory note is not a negotiable instrument.


Which of the following should be classified as an “other” receivable?
Interest receivable


What type of receivables result from sales transactions?
Trade receivables


Which one of the following is not a method used by companies to accelerate cash
receipts?
Writing off receivables

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