Examples of physical assets include the following except;

Select one:

a.

inventories

b.

equity instruments

c.

property, plant and equipment

d.

commodities

This pertains to the means of converting a catalog list price to the prices actually charged.

Select on

a.

Freight-in

b.

Uncollectible account

c.

Trade discount

d.

Cash Discounts

If a transfer of receivables with recourse is not classified as a sale, and the proceeds received are less than the net receivables, the difference shall be treated as No

Select one

a.

Ordinary loss recognized in the current period

b.

Discount on transferred receivables that is to be amortized to interest expense over the borrowing period

c.

Ordinary gain allocated over the borrowing period

d.

Extraordinary loss recognized in the current period

The bank statement shall provide information about which of the following

Select one:

a.

Deposits in transit

b.

Outstanding checks

c.

Notes charged by the bank

d.

Errors made by the company