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These are all true/false questions that I have an idea as to which one’s they are, but i’d just like…

These are all true/false questions that I have an idea as to which one’s they are, but i’d just like to get a second opinion just to make sure the answers are correct before submitting it. 1) A company’s acceptance of credits cards, like MasterCard, is an example of factoring with recourse. T or F? 2) Following a lenient credit-granting policy will probably result in fewer defaults by customers. T or F? 3) The receivable turnover is expressed in terms of dollars. T or F? 4) Notes receivable and cash are examples of short-term financial assets. T or F? 5) A compensating balance refers to a minimum amount that must remain in a bank account as part of a credit-granting arrangement. T or F? 6) On a bank reconciliation, an NSF check would be deducted from the balance per bank. T or F? 7) On a bank reconciliation, a bank service charge would be deducted from the balance per books. T or F? 8) Because bad debt losses are incurred to generate sales, they should be charged against the sales that they helped generate. T or F? 9) The allowance method of handling bad debts violates the matching principle. T or F? 10) Under the allowance method, Uncollectible Accounts Expense is recorded when an individual customer defaults. T or F? 11) The Allowance for Uncollectible Accounts is a contra-asset account. T or F? 12) The debtor named in a promissory note is called the payee. T or F? Thanks for the help.



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