Solution-Which principles does impairment of loan

Which principles does impairment of loan receivable depicts

Assignment Help Accounting Basics

Reference no: EM132794716

Problem 1: What of the following principles does impairment of loan receivable depicts?

a. Going concern

b. Conservatism

c. Economic Entity Theory

d. Timeliness

Problem 2: Accounting for the interest in a non-interest bearing note receivable is an example of what accounting theory?

a. Matching

b. Verifiability

c. Substance over form

d. Form over substance

e. answer not given

Problem 3: Which statement is not correct?

a. The amount of Accounts Receivable (A/R) pledged should be excluded from A/R in the balance sheet.

b. When A/R are assigned on a notification basis, the company reduces liability and A/R account for the net amount of collections of A/R.

c. In factoring A/R as a continuing agreement, the buyer of A/R protects himself from risks arising from discounts, returns and allowances thru by d. d. withholding a portion of the amount of A/R.

e. answer not given

Reference no: EM132794716

Questions Cloud

Explain common human virus oc43 : Explain common human virus OC43 (beta coronavirus)

Microscopic determination of mobility : Both microscopy and motility agar are used to confirm microbial mobility. Research techniques involving microscopic determination of mobility

Identify two major transfer pricing methods : Identify two major transfer pricing methods and comment briefly on their relative merits. Which measurement method is best from the viewpoint

Bioactive extract of penicillium chrysogenum : 1. Describe the steps involved in developing a clinical drug from a bioactive extract of Penicillium chrysogenum.

Which principles does impairment of loan receivable depicts : Which principles does impairment of loan receivable depicts? Accounting for the interest in a non-interest bearing note receivable is an example?

Why do capsules make bacteria so resistant to phagocytosis : Certain endospore-forming bacteria are a particular concern of the canned food industry. Name one of these bacteria and explain why it is of such concern

Which interest on a non-interest bearing note is equal to : Which interest on a non-interest bearing note is equal to? excess of market value over present value of note. /Excess of present value over face value of note

Which entry debiting accounts receivable : Which entry debiting accounts receivable and crediting allowance for bad debts would be made when? a previously defaulted account is collected

Determine how much each class of shares should receive : Sheffield Limited, Determine how much each class of shares should receive if the preferred shares are non-cumulative and non-participating.

User Account

All Pages

Which principles does impairment of loan receivable depicts

Reference no: EM132794716

Reference no: EM132794716

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT