When the warranty obligation is recognized c. C.When the sale of d.N None of the

Question

When the warranty obligation is recognized c. C.When the sale of d.N None of these a When there is a settlement b. of a warranty claim made by a customer. merchandise is made. 1 points UESTION 17 Vhich of the following items is not classified as a current asset? a Accounts Receivable. .Merchandise Inventory. Office Equipment. d. Prepaid Rent. Prepaid Rent. 1 points UESTION 18 n a classified balance sheet, the financial statement user will be able to distinguish between: product andC current and non period costs. ??. a" cash flow from operations and d.none of these cash flow from investing activities current assets.

Explanation / Answer

Ans.17 C Office Equipment Explanation: Accounts receivables, Merchandise inventory & prepaid rent are current assets whereas the office equipment is a Fixed or non-current asset. Ans.18 C Current assets and non current assets. Explanation: In the given options only current assets and non current assets are listed in balance sheet. Cash flow from operating and investing activities     =    Cash flow statement. Product and period costs    =   Income statement.

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.