nment Question 14 The accounts receivable turnover ratio is calculated by dividing O net sales by ending net trade receivables. O gross sales by ending net trade receivables. net sales by average net trade receivables. Ogross sales by average net trade receivables. Que udy & Practice Assignment Gradebook ORION Downloadable eTextbook en Assignment TIMER SOURCES Question 15 Regarding receivables recognition and measurement, which of the following is true regarding the related IFRS standard? None of these statements is correct. It requires the effective interest method is used to recognize interest and related premiums or discounts. O It requires the straight-line method is used to recognize interest and related premiums or discounts. It allows a choice between the effective interest and straight-line methods. Question Attempts: by Study udy & Practice Assignment Gradebook ORION Downloadable eTextbook en Assignment TIMER SOURCES Question 16 A Cash Over and Short account is O not generally acceptable under Canadian GAAP. O debited when the sum of the receipts and the cash in the fund is less than the imprest amount. 10 o C O debited when the sum of the receipts and the cash in the fund is more than the imprest amount. a contra account to Cash. Question Attempts: by Study