A Listing of the Balances in the Accounts Receivable Master

question 8

Multiple Choice

A listing of the balances in the accounts receivable master file at the balance sheet date, including individual customer balances outstanding and a breakdown of each balance by the time passed between the date of the sale and the balance sheet date, is the

• A) customer list.
• B) aged trial balance.
• C) accounts receivable ledger.
• D) schedule of accounts receivable.

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Definitions:

Face Value

Is the nominal value or dollar value stated on a financial instrument, such as a bond or a stock.

Bond Issue

The process by which a borrower issues bonds to investors in order to raise capital under specific terms of repayment and interest.

Deposited Cash

Cash that has been placed into a bank account or financial institution for safekeeping or to earn interest.

Bond Refunding

The process of retiring existing bonds by issuing new bonds, usually to take advantage of lower interest rates.