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- The business made a sale of OMR 21000 ( | cost was OR 18000), on credit basis. The effect on Account Receivable will be : Select one: O a. Account Receivable will decrease by OMR 21000 O b. Account Receivable will increase by OMR 18000 O c. Account Receivable will increase by OMR 21000 O d. Account Receivable will decrease by OMR 18000Making payments on time is part of (a. payment history b. amount owed c. length of credit history d. new credit e. new mix) portion of a credit score and is (a. 35% b. 30% c. 15% d. 10% ) of the score. Having no late payments makes your credit score go ( a. up b. down ) .A. Accounts Receivable (esion slauluM) B. Accounts Payable D. Owner's Investment gbome A credit to accounts payable is balanced with a debit to what account 5. A. Wages Payable B. Fees Earned C. Cost of Goods Sold yeldevg D. Cash ibe1o A A debit to supnli a credit to what account, varr De valanceu eeneqa aepeW A. Fees Unearned B. Accounts Receivable buntmueed C. Accounts Pavable 69 einuoooA horw Cash 7. a A debit to cash can be balanced by a credit to what account.s dashebit A. Utilities Expense B. Owner's Withdrawals uneve C. Unearned Revenue Dividaldeyabnebivi D. Accumulated Depreciation ocount 70
- The contra revenue account that represents the reduction in the amount paid by a credit customer if payment is made within a specified period of time is known as which of the following: O Contra revenue account O Sales allowance account O Sales discount account O Allowance for uncollectible accounts ASUS f3 f4 f5 f6 f7 f8 f9 f10 f11 区 ロ/京 %24 & 3 4. 7. 8 9. 01 Y U G H. J K 16 5 图When cash is paid for rent, Rent Expense is ____. a. increased by a debit b. decreased by a debit c. increased by a credit d. decreased by a creditAnswer the question and explain why did you pick this answerThe purchase of $200 supplies on credit results in an: * Increase in supplies and accounts payable Increase in supplies and decrease in cash Increase in supplies and decrease in accounts receivable O None of the options
- Determine if this shall result in recognition of liabilities 10. receipt of cash from a customer for goods to be delivered next month a. yes b. no1. In the _____, a balance is calculated at the end of each each, incorporating any purchases, credits, or payments that were made that day. 2. If you deposit a sum of money P in a savings account or if you borrow a sum of money P from a lender, then P is reffered to as the ______?.______ a debt means that the debr is retired in a given length of time by equal periodic payments that include compound interest. 3. An _____ is a sequence of equal period payments, If payments are made at the end of each time interval, the annuity is called an _____.? Fill in the blank for each questions thanks.Which one of the following statements about trade discount is true? It is recorded in books of accounts None of these It is given to encourage the customers to pay their debts before time It is also called cash discount If opening net assets are OMR 200,000, dividends are OMR 24,000, direct expenses are OMR 20,000 and closing net assets are OMR 300,000 then profit under financial concept of capital maintenance is: üoul lis sl 立 0 TOSHIBA
- Goods returned by customer will be debited to which account? Return outward O Return inward O Customer's A/C O Purchases A/C O Creative Advertising obtained 12% 5-year loan of $20,000 from the bank. Which account is credited? Capital O Bank loan O Cash O Account receivable OAccounts Receivable Beg. Bal. $ 187 18 150 6 64 15 19 End. Bal. $ ? Which of the following is an accurate description of the transactions effecting Accounts Receivable? Group of answer choices A. Customers of Careful charged more on their accounts than they paid. B. Customers of Careful paid more on their accounts than they charged. C. Careful incurred more debt than if paid off. D. Carefeul paid off debt. the ending balance of Accounts Receivable for Careful is: Group of answer choices A. $401 debit B. $343 debit C. $343 credit D. $ 58 creditMULTIPLE CHOICE 1. These represent open accounts with customers. a. Trade receivables b. Nontrade receivables c. Accounts receivable d. Notes receivables 2. Upon initial recognition, accounts receivable are measured at а. Face value b. Discounted value c. Maturity value d. Net realizable value 3. Trade receivables that are expected to be collected within 12 months after the reporting period shall be presented in the statement of financial position at a. Net realizable value b. Maturity amounts c. Face amounts d. Discounted values 4. Receivables denominated in a foreign currency should be a. Translated to local currency using the exchange rate at the time of recognition b. Shown at face value of the foreign currency c. Translated to local currency using the exchange rate at closing rate d. Translated to local currency using the exchange rate when the financial statements are authorized for issue 5. Which valuation allowance is a proper deduction from trade accounts receivable in…