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  • Question
  • What type of account is accounts receivable?


  • Options
  • A. Asset
  • B. Liability
  • C. Expense
  • D. Equity

  • Correct Answer
  • Asset 

    Explanation

    Accounts receivable is listed as a current asset in the balance sheet, since it is usually convertible into cash in less than one year as it is the amount owed by the customer to the seller.

     

  • Tags: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO

    Accounting and Finance problems


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    • 1. when a purchase on account is made the invoice becomes

    • Options
    • A. debt
    • B. credit
    • C. both A & B
    • D. None of the above
    • Discuss
    • 2. The principle of diversification tells us that

    • Options
    • A. spreading an investment across many diverse assets will eliminate some of the total risk
    • B. concentrating an investment in two or three large stocks will eliminate all of the unsystematic risk
    • C. spreading an investment across five diverse companies will not lower the total risk
    • D. concentrating an investment in three companies all within the same industry will greatly reduce the systematic risk
    • Discuss
    • 3. Which of the following best describes term life insurance?

    • Options
    • A. The insured pays a premium for a specified number of years.
    • B. The insured is covered during his or her entire lifetime.
    • C. The insured pays the premium until his or her death.
    • D. The insured can borrow or collect the cash value of the policy.
    • Discuss
    • 4. Is accounts receivable an asset or liability?
    • Discuss
    • 5. The APC is calculated as

    • Options
    • A. consumption/income
    • B. change in income/change in consumption
    • C. income/consumption
    • D. change in consumption/change in income
    • Discuss
    • 6. Invoice is an example of

    • Options
    • A. Accounts Receivable
    • B. Accounts Payable
    • C. Both A & B
    • D. None of the above
    • Discuss
    • 7. Bad debt expense is reported on the income statement as
    • Discuss
    • 8. Other things the same, when the interest rate rises

    • Options
    • A. people would want to lend less, making the supply of loanable funds decrease.
    • B. people would want to lend less, making the quantity of loanable funds supplied decrease.
    • C. people would want to lend more, making the supply of loanable funds increase.
    • D. people would want to lend more, making the quantity of loanable funds supplied increase.
    • Discuss
    • 9. Assets minus liabilities equals

    • Options
    • A. Equity
    • B. Net income
    • C. Working capital
    • D. Net assets
    • Discuss
    • 10. Which one of the following is not a 'Money Market Instrument'?

    • Options
    • A. Commercial Paper
    • B. Equity Shares
    • C. Certificate of Deposit
    • D. Treasury Bills
    • Discuss


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