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please help me with these 4 questions... thanks Question 5 Which of the following statements, regarding notes receivable, is incorrect? All notes receivable are considered
please help me with these 4 questions... thanks
Question 5 Which of the following statements, regarding notes receivable, is incorrect? All notes receivable are considered long-term assets. A notes receivable is a written promise that a customer will pay a fixed amount of principal plus interest by a certain date in the future. Notes receivable are sometimes called promissory notes. Notes receivable usually have longer terms than accounts receivable. Previous Nes Wov 5 at 12:45pm Instructions Question 11 Which of the following is true of the acid-test ratio? It measures the ability of the company to earn net income. It indicates how much cash could be realized by selling the inventory It measures a company's ability to pay its current liabilities. It measures a company's ability to meet its short-term obilgations with cash and cash equivalents. OA Shot on OnePlus Powered by Dual Camera NOV 5 al 12:45 pm Instructions Question 16 Which of the following is true of goodwill? Both created and acquired goodwill must be recorded in the books. Goodwill must be capitalized when acquired and amortized over seven years or less. Goodwill is not amortized. Goodwill must be expensed when acquired. JOA Shot on OnePlus Powered by Dual Camera A truck costs $303,000 and is expected to be driven 115,000 miles during its five-year life. Residual value is expected to be zero. If the truck is driven 29,000 miles during the first year, how much depreciation should the business record under the units-of-production method? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) $47,520 $76,270 $97,750 $25,423Step by Step Solution
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