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C.Foreign government securities
D.U.S. government securities
E.All of the above might be included in "cash equivalents."
Q-8 Net sales total $584,000. Beginning and ending accounts receivable
are
$46,000 and $50,000, respectively. Calculate days' sales in receivables.
Q-9 Tennis Academy held investments in trading securities with a fair
value of $50,000 at December 31, 2014. These investments cost
Fairway Pro Fairway Pro 45,000 on January 1, 2014 What is the
appropriate amount for Fairway Pro Fairway Pro to report for these
investments on the December 31,
2014 balance sheet?
Q-10 Requiring that an employee with no access to cash do the
accounting is an example of which characteristic of internal control?
A.Competent and reliable personnel
B.Assignment of responsibility
C.Monitoring of controls