Cash Receipts and Payments Quiz

The Accounts Receivable Coordinator applies all payments received by the Company via wire or ACH upon receipt or deposit.

If no remittance advice is received, payments are applied to the oldest outstanding balance.

Checks received by the Company are deposited online via a desktop deposit system by the AR Coordinator.

<p>The Controller serves as a backup and can also initiate a deposit.</p> Signup and view all the answers

<p>Once deposited, the AR Coordinator records the receipt in Great Plains and applies the receipt to the customer’s account.</p> Signup and view all the answers

<p>To assess whether a potential impairment has occurred.</p> Signup and view all the answers

<p>General economic conditions, the Company's outlook, market performance, and financial performance.</p> Signup and view all the answers

<p>When the qualitative assessment indicates that the fair value of Goodwill is likely less than its carrying amount.</p> Signup and view all the answers

<p>No, Goodwill is not amortized.</p> Signup and view all the answers

<p>The excess of the purchase price of acquired assets and assumed liabilities.</p> Signup and view all the answers