Participation Questions - Chapter 5

Questions:

If I complete all of the assignments for this class, I have a better chance of earning the grade I desire.

True or False

Based on the Wall Street Journal Article, what percentage of all cash holdings of public companies does Apple Computers hold?

1%, 5%, 15%, or 10%

Sales returns and sales allowances are expense accounts, so they do not reduce the revenue number shown on the income statement.

True or False

Accounts receivable is considered to be a more liquid asset than inventory.

True or False

How many methods are there for recording uncollectible A/R?

1, 2, 3, or 4