Entities need not adjust consideration for the effects of a significant financing component if the time period between the transfer of goods or services to the customer and customer payment is __________ or less.

		Three months
		One year
		Two years
		Six months

Which of the following items would most likely NOT be classified as a cash equivalent?

		A 12-month U.S. Treasury bill purchased three months from maturity
		Commercial paper of Utility Company with a 30-day maturity. Utility Company has a strong credit rating.
		Money market fund with an original maturity of four months.
		Certificate of deposit with a one-month maturity.

When the allowance method of recognizing doubtful accounts is used, the entries to record collection of an account previously written off would

		Increase total assets.
		Increase net income.
		Decrease total assets.
		Have no effect on net income or total assets.