【正文】 vides information to managers and external users, such as potential investors.12. What does the term ‘net realizable value’ mean regarding Accounts Receivable? ( )a. Net realizable value is the balance in the Accounts Receivable account as of a given date.b. Net realizable value is what a pany’s Accounts Receivable accounts will bring if they are sold to a third party.c. Accounts Receivable less Allowance for Uncollectible Accounts will equal the net realizable value of Accounts Receivabled. Net realizable value is the balance in the Allowance for Uncollectible Accounts as of a given date.13. Which of the following statements about a trail balance is incorrect? ( )a. It’s primary purpose is to prove the mathematical equality of debits and credits after postingb. It uncovers certain errors in the journalizing and posting c. It is useful in the preparation of financial statementsd. It proves that all transactions have been recorded. 14. In the closing process all of the revenues and expenses account balances are transferred to the ( )a. capital account b. ine summary accountc. retained earnings account d. dividends account 15. The postclosing trial balance consists only of ( )a. Asset and liability accounts b. temporary accounts c. revenue and expense accounts d. permanent accounts16. Which of the following statements is True? ( D )a. The credit side of an account implies something favorable.b. For a given account, total debits must always equal total credits.c. Transactions are initially recorded in a ledger accountd. Journalizing means entering the economic effect of each transaction in a journal in chronological order under the doubleentry system. 17. Financial statements can be prepared from ( B )a. the trial balanceb. the adjusted trial balancec. the journald. the ledger18. Which of the following statements is False? ( A )a. After a bank reconciliation has been pleted, the pany must make journal entries to adjust for all outstanding checks.b. A bank reconciliation for the moth of September will begin with “balance per book” and “balance per bank statement” at September 30.c. A check that is outstanding for two consecutive months should be included in both months’ bank reconciliations. d. A credit memorandum on a bank statement indicates an addition to the bank balance.19. Voucher Register is ( B )a. A record of vouchers that have been paidb. The journal that contains a record of each approved voucherc. A list of debtsd. A document that authorizes payment.20. Estimated bad debts as presented on the ine statement is ( C )a. Allowance for uncollectible accountsb. Creditc. Uncollectible accounts expensed. Revenue21. The GAAP assets that an item should be included in a financial statement if its omission or misstatement would tend to mislead the users of financial statements is known as ( C )a. the costbenefit criterionb. the going concern conventionc. the materiality conventiond. reliability22. Accounts receivable, notes receivable, and interest receivable are all classified as __________ on the balance sheet. ( A )a. assetsb. liabilitiesc. owners39。 equityd. receivables23. Which book or document is a list of all accounts and their balances? (B)a. the journalb. the tri