Witryna• An asset use is a transaction that will decrease an asset plus decrease a claim on assets. Asset uses can either be from distributions (to owners), payments on liabilities (to creditors), or operations (expenses). • An asset exchange is a transaction that increases one asset and decrease another asset. Total assets will remain unchanged. WitrynaAn asset-backed security (ABS) is a security whose income payments, and hence value, are derived from and collateralized (or "backed") by a specified pool of underlying assets.. The pool of assets is typically a group of small and illiquid assets which are unable to be sold individually. Pooling the assets into financial instruments allows …
Accounting200 Test Bank Ch. 2 Flashcards Quizlet
WitrynaSee the answer. 1.Borrowing by issuing a note payable is a/an. asset source transaction. asset use transaction. asset exchange transaction. claims exchange transaction. 2. 3 .In accounting for a contingent liability, if the likelihood of the obligation is probable and the amount can be estimated, a company must. Witryna29. Jones borrowed $960 from the bank, issuing a 12.5%, 4-month promissory note. Assuming that the note is issued and paid in the same accounting period, Jones’ entry on the date of payment will include a A. Debit to Notes Payable for $960. B. Debit to Interest Payable for $40. C. Credit to Cash for $960. D. Debit to Interest Receivable … پروفایل فلک در دفتر عشقم قلم زد
Accounting Skills Assessment Practice Exam Page 1 of 11
WitrynaBorrowing by issuing a note payable is a/an: a) asset source transaction. b) asset use transaction. c) asset exchange transaction. d) claims exchange transaction. A company would use a change fund if: A. they want to pay the postage expense without writing a check. B. there are cash transactions daily. WitrynaIssuing a note means that the company is borrowing money and signing a note payable as evidence of the loan. When a company borrows money by issuing a note, it receives cash but it also creates an obligation or a liability. This, assets increase because cash increases, and liabilities increase because notes payable increases. پرونده به شعبه اجرا کیفری واصل شد یعنی چه