1,Quality of receivables refers to

Multiple Choice

• Sales turnover

• The likelihood of collection

• The creditworthiness of the customers

• The speed of collection

• The speed and likelihood of collection

2.Accounts receivable turnover is calculated by

Multiple Choice

• Dividing average accounts receivable by net sales and multiplying by 365

• Dividing average accounts receivable by net sales

• Dividing net sales by average accounts receivable and multiplying by 365

• Dividing net sales by average accounts receivable

• Dividing net income by average accounts receivabl

• 3. On December 31 of the current year, TechCom's unadjusted trial balance included the following items: Accounts Receivable, debit balance of $107,250; Allowance for Doubtful Accounts, credit balance of $1,900. What amount should be debited to Bad Debt Expense, assuming 6% of outstanding accounts receivable as of December 31 of the current year, are estimated to be uncollectible?

  Multiple Choice

• $3,755

• $2,835

• $4,535

• $8,335

• $6,435

• 4.In the process of adjusting inventory, how can the lower of cost and net realizable value be applied to the ending inventory?

  Multiple Choice

• To groups of similar or related items

• Purchase price

• The inventory as a whole

• Current replacement cost

• Current sales price