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10 Cards in this Set
- Front
- Back
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Which of the following is not considered cash for financial reporting purposes?
a. Petty cash funds and change funds b. Money orders, certified checks, and personal checks c. Coin, currency, and available funds d. Postdated checks and I. O. U.'s |
Postdated checks and I. O. U.'s
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Which of the following is considered cash?
a. Certificates of deposit (CDs) b. Money market checking accounts c. Money market savings certificates d. Postdated checks |
Money market checking accounts
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Travel advances should be reported as
a. supplies. b. cash because they represent the equivalent of money. c. investments. d. receivables |
receivables
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Which of the following items should not be included in the Cash caption on the balance sheet?
a. Coins and currency in the cash register b. Checks from other parties presently in the cash register c. Amounts on deposit in checking account at the bank d. Postage stamps on hand |
Postage stamps on hand
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All of the following may be included under the heading of "cash" except
a. currency. b. money market funds. c. checking account balance. d. savings account balance |
money market funds.
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In which account are post-dated checks received classified?
a. Receivables. b. Prepaid expenses. c. Cash. d. Payables. |
Receivables.
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In which account are postage stamps classified?
a. Cash. b. Office supplies. c. Receivables. d. Inventory. |
Office supplies.
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What is a compensating balance?
a. Savings account balances. b. Margin accounts held with brokers. c. Temporary investments serving as collateral for outstanding loans. d. Minimum deposits required to be maintained in connection with a borrowing arrangement. |
Minimum deposits required to be maintained in connection with a borrowing arrangement.
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Under which section of the balance sheet is "cash restricted for plant expansion" reported?
a. Current assets. b. Non-current assets. c. Current liabilities. d. Stockholders' equity. |
Non-current assets.
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A cash equivalent is a short-term, highly liquid investment that is readily convertible into known amounts of cash and
a. is acceptable as a means to pay current liabilities. b. has a current market value that is greater than its original cost c. bears an interest rate that is at least equal to the prime rate of interest at the date of liquidation. d. is so near its maturity that it presents insignificant risk of changes in interest rates. |
is so near its maturity that it presents insignificant risk of changes in interest rates.
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