87. to shorten collection periods on credit sales, a company may: A. increase th

ID: 2499455 • Letter: 8

Question

87. to shorten collection periods on credit sales, a company may:

A. increase the discount offered for early payment

B. emphasize credit cared sales

C. charge interest on unpaid customer accounts that exceed a certain age

D. all of the above

90. when a business purchases land with notes payable:

A. both assets and stockholers equity are increases

B. both assets and liabilities are increases

C. assets are increases and stockholders equity is decreased

D. assets are increased and liabilities are decreased

84. Generally, companies will prepare financial statements:

A. only when both the balance sheet and income statements are affected.

B. at the end of the accounting period

C. after every transaction

D. at the close of every busienss day

87 (d) all of the above

90(b) Both Assets and Liabilities increases

84 (b)at the end of the accounting period

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