Quiz 10

Accounts Receivable – Intermediate
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10 MCQs with right answers
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Q1. Accounts Receivable is an obligation that originates because of _____ made on credit.*

1 mark

purchases

sales

expenses

sales returns

Q2. Accounts receivable is a _____.*

1 mark

contra asset

deferred asset

short-term asset

short-term liability

Q3. Accounts receivable is also known as _____.*

1 mark

liquid assets

current assets

trade debtors

trade creditors

Q4. Under which head of the balance sheet are receivables shown?*

1 mark

Current Liabilities

Cash Equivalents

Liquid Assets

Current Assets

Q5. _____ is internal document issued to customers.*

1 mark

Credit note

Sales order

Debit note

Purchase order

Q6. Accounts receivable should be collected from the customer within _____.*

1 mark

agreed period of time

30 days

60 days

90 days

Q7. Receivable process is also known as _____ in larger corporations.*

1 mark

O2C

R2R

O2R

P2P

Q8. Receivables effect the _____ of a company.*

1 mark

goodwill

working capital

credibility

gearing

Q9. Receivables affect _____ ratio of a company.*

1 mark

gearing

current

investor's

profitability

Q10. Accounts receivable is also known as _____ receivable.*

1 mark

cash

inwards

notes

trade

Quiz 10 – Accounts Receivable – Intermediate

Quiz 10

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