Question 25 (1 point)

Saved

The interest on a note receivable is recognized at:

Question 25 options:

a)	The maturity of the note

b)	When the note is paid

c)	When the note is issued

d)	Interest is never recognized

Question 26 (1 point)

Saved

Sales made by using debit cards are:

Question 26 options:

a)	Recorded as a debit to Accounts Receivable

b)	Recorded as a debit to Sales

c)	Recorded as a debit to Inventory

d)	Recorded as a debit to Cash

Question 27 (1 point)

Any fees associated with accepting a form of payment are:

Question 27 options:

a)	Not recorded

b)	Recorded as a Loss on Sale

c)	Recorded as a Fees Expense

d)	Can be any of the above depending on the nature of the business.

Question 28 (1 point)

American Express is an example of a:

Question 28 options:

a)	Bank Credit Card

b)	Debit Card

c)	Retail Store Card

d)	Non-bank Credit Card

Question 29 (1 point)

The following items should be NOT be capitalized regarding a truck:

Question 29 options:

	Purchase price
	Freight in
	Yearly oil change
	The cost of a new licence plate

Question 30 (1 point)

In Canada, Debit Card transactions are made through a system called:

Question 30 options:

a)	Debit Direct

b)	Interac Direct Payment

c)

Interact

d)	International Direct Payment