1-14 please

Name: Student ID: -0.0 Section: Section 9 8 AM Section 10 9 AM Section 1 11 AM Section 2 12 PM Multiple Choice Questions 2 points each Please indicate the appropriate answer on the green Scantron form using a pencil. Please ensure that you have filled out the form with your identifying information. 1. The expense recognition or matching principle, as applied to bad debts, requires A) That expenses be ignored if their effect on the financial statements is unimportant to users' business decisions. B) The use of the direct write-off method for bad debts. C) The use of the allowance method of accounting for bad debts. D) That bad debts be disclosed in the financial statements. E) That bad debts not be written off. 2. The Discount on Bonds Payable account is a(n): A) Revenue account. B) Contra liability account. C) Adjunct or accretion liability account. D) Contra asset account. E) Equity account. Which of the following does not require an adjusting entry at year-end? A) Accrued interest on notes payable. B) Supplies used during the period. C) Cash investments by stockholders. D) Accrued wages. E) Expired portion of prepaid insurance 3. Page 1