1. A company purchased a building twenty years ago for $150,000. The building currently has an appraised market value of $235,000. The company reports the building on its balance sheet at $235,000. What concept or principle has been violated?

Group of answer choices

cost principle

separate entity concept

recognition principle

monetary measurement concept

2.

Which of the following best represents a positive product of a lower number of days sales in receivables ratio?

Group of answer choices

collection of receivables is quick, and cash can be used for other business expenditures

collection of receivables is slow, keeping cash secured to receivables

credit extension is lenient

the lender only lends to the top 10% of potential creditors

3.

Employees at Rayon Enterprises earn one day a month of vacation compensation (twelve days total each year). Vacation compensation is paid at an hourly rate of $45, based on an eight-hour work day. Rayons first pay period is January. It is now April 30, how much vacation liability has accumulated if the company has four employees and no vacation compensation has been paid?

Group of answer choices

$5,760

$1,440

$4,320

$7,200

4.

A convertible bond can be converted into ________.

Group of answer choices

common stock of the company

preferred stock

common stock and then converted into preferred stock

common stock of a different company