If a Long-Term Note Receivable Is Included on an Accounts

question 113

Multiple Choice

If a long-term note receivable is included on an accounts receivable listing, there is a violation of the:

• A) timing objective.
• B) classification objective.
• C) completeness objective.
• D) existence objective.

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Definitions:

Errors of Straightness

The variation from the desired straight line in the path or surface of a mechanical part.

Diameter

The length of a straight line passing from side to side through the center of a body or figure, especially a circle or sphere.

Thickness

The dimension from one surface of an object to the opposite surface, important in determining material properties and suitability for particular applications.

Flatness Tolerance

A specification that defines the permissible amount of deviation from a perfectly flat surface.