QUESTION 11

1. Assuming a company uses the direct write-off method, the journal entry to write off an uncollectible accounts receivable includes a debit to:

   	a.	Accounts Receivable
   	b.	Cash
   	c.	Bad Debt Expense
   	d.	Allowance for Doubtful Accounts

2.5 points

QUESTION 12

1. Book Value is:

   	a.	Cost minus Cash Received
   	b.	Salvage Value minus Accumulated Depreciation
   	c.	Cost minus Accumulated Depreciation
   	d.	Cost minus Salvage Value

2.5 points

QUESTION 13

1. Deposits in transit as of the end of the month are:

   	a.	Added to the cash balance per the Book
   	b.	Subtracted from the cash balance per the Book
   	c.	Added to the cash balance per the Bank
   	d.	Subtracted from the cash balance per the Bank

2.5 points

QUESTION 14

1. During a period of steadily rising costs, the inventory valuation method that yields the highest reported net income is:

   	a.	FIFO method
   	b.	LIFO method
   	c.	Specific identification method
   	d.	Weighted-average method

2.5 points

QUESTION 15

1. Generally accepted accounting principles require that the inventory of a company be reported at:

   	a.	Historical cost
   	b.	Lower of cost or market
   	c.	Market value
   	d.	Retail value

Please answer everything and I will upvote.