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School: Jefferson Community and Technical College - Course: ART MISC - Subject: Accounting

QUESTION 1 1.Accounts receivable is classified on the balance sheet as a current asset current liability noncurrent asset noncurrent liability 1.2 points QUESTION 2 1.Revenue can be recognized when all of the following criterias are met EXCEPT There is credible evidence that an arrangement exists. Goods have been delivered or services have been performed. The selling price or fee to the buyer is fixed or can be reasonably determined. All of these are correct 1.2 points QUESTION 3 1.______governs recognition for publicly traded companies. FASB GAAP SEC recognition is not govern for publicly traded companies 1.2 points QUESTION 4 1.Bad debts are recorded on financial statements as bad debt

expenses unearned revenue write offs 1.2 points QUESTION 5 1.The adjusting entry for a bad debt expense has a debit and credit to what account. Bad debt Expense Allowance for doubtful accounts allowance for doubtful account bad debt expense Account payable bad debt expense none of these CourseACCT1100: Financial Accounting I (Asynchronous (100% Online)) 14631 TestChapter 9 Review Started3/6/23 3:02 PM Submitted3/6/23 3:06 PM StatusCompleted AttemptScore 3.6 out of 6 points TimeElapsed 4 minutes Question 1 1.2 out of 1.2 points Accounts receivable is classified on the balance sheet as a Question 2 1.2 out of 1.2 points Revenue can be recognized when all of the following criterias are met EXCEPT Question 3 1.2 out of 1.2 points ______governs recognition for publicly traded companies. Question 4 0 out of 1.2 points Bad debts are recorded on financial statements as Question 5

0 out of 1.2 points The adjusting entry for a bad debt expense has a debit and credit to what account.