Reference no: EM132936461
Problem 1: Post dated checks received are not considered as cash
a. True
b. False
Problem 2: Cash equivalents are short term investments with original maturities of 6 months or less
a. True
b. False
Problem 3: Bank overdraft are generally offset against cash balance
a. True
b. False
Problem 4: Deposits held as compensating balances is legally restricted and held against long term credit should be included among current assets
a. True
b. False
Problem 5: If a firm has two bank accounts in the same bank and the other has a positive cash balance while the other is overdraft, the overdraft is
a. Offset against the other account
b. Not disclosed at all
c. Reported as a current liability
d. Reported in the notes to the SFP
Problem 6: Deposits held as compensating balances
a. Usually do not earn interest
b. If legally restricted and help against short-term credit may be included as cash
c. If legally restricted and held against long-term credit may be included among current assets
d. None of these
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Which is an advantage of issuing bonds versus issuing stock
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How much will Jun receive
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Prepare the necessary journal entries as at December
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Which deposits held as compensating balances
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What amount of gain shall be recognized at December
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Which should not be considered cash
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How much is the investment property to be presented
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Which should be presented as cash in the statement
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