Accounting Questions

No plagiarism, No grammar error, No overdue

Minimum 70 word answer per each question.

1. Why is it important to have effective control of cash?

2. What are the basic issues involved with the valuation of receivables?

3. What is meant by Cash Equivalents?

4. How are Note Receivables valued?

5. What is the aging Account Receivable?

6. How are bad debts handled differently for GAAP and Tax purposes?

7. Even though GAAP is based on the accrual basis of accounting, why is cash important?

8. Who can describe the process of discounting a note receivable?