1. Which of the following is not considered to be part of the internal control structure of a company?

A. Publish accurate financial statements on a regular basis.

B. Ensure that assets are kept secure.

C. Monitor operations of the organization to ensure maximum efficiency.

D. Ensure assets are properly used.

2. If a customer pays with a credit card and the service has been provided, which of the following accounts will be used to record the sales entry for this transaction?

A. Sales Revenue, Credit Card Expense, Accounts Receivable

B. Cost of Goods Sold, Merchandise Inventory, Sales Revenue

C. Accounts Receivable, Merchandise Inventory, Credit Card Expense

D. Cost of Goods Sold, Credit Card Expense, Sales Revenue

3. A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time?

A. $7,150

B. $65,000

C. $14,300

D. $2,383

4. Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit sales for the year are $567,920. What is the days sales in receivables ratio for 2018 (rounded to the nearest whole number)?

A. 109 days

B. 190 days

C. 110 days

D. 101 days

5. South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales for the year are $769,346. The balance at the end of 2017 was $325,300. What is the accounts receivable turnover rate for 2018 (rounded to two decimal places)?

A. 2.25 times

B. 2.02 times

C. 2.15 times

D. 1.13 times