1. Paying back money to a creditor should be recorded as an expense? Yes/No? Why? 

2. Which item is the most liquid: Accounts Receivable or Patent? Why?

3. In accounting, do we consider managers as an asset? Yes/No and Why?

4. Why a company generating a net loss is a bad news for the shareholders (from an accounting point of view)?

Answer rating: 100% (QA)

1 ANSWER IS YES EXPLANATION When a company purchases goods on credit which needs to be paid back in ... View the full answer