$1.$ What is required to account for an investment as a cash equivalent?

$2.$Why are good internal controls important? What is an example of one internal control that could be used for cash?

$3.$What differentiates between a trade receivable and a note receivable?

$4.$What is the difference between the gross method and net method for recording receivables?

$5.$Which two accounts are used for the direct write$-$off method? What three

accounts are used for the allowance method?

$6.$What is the primary difference between how we account for a short$-$term

note versus a long$-$term note?

$7.$What is a sale with recourse, when discussing A$/$R$?$