Equipment Would Appear on The

question 13

Multiple Choice

Equipment would appear on the:

• A)balance sheet with the long-term assets.
• B)income statement with the revenues.
• C)income statement with the operating expenses.
• D)balance sheet with the current assets.

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Definitions:

Face Value

The nominal or dollar value printed on a security such as a bond or stock, representing its legal value.

Note

A financial instrument acknowledging debt, with terms including interest rate and repayment schedule.

Short-Term Notes Receivable

Current assets representing written promises for amounts to be received within a short period, typically within a year.

Cash (Net) Realizable Value

Cash (net) realizable value is the estimated amount of cash that a company expects to collect from its receivables, net of any allowances for doubtful accounts.