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CHAPTER 8
ACCOUNTING FOR RECEIVABLES
SUMMARY OF QUESTIONS BY LEARNING OBJECTIVES AND BLOOM’S
TAXONOMY
Item
LO
BT
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LO
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Item
LO
BT
True-False Statements
1.
1
K
9.
3
C
17.
3
C
25.
5
K
sg33.
3
K
2.
1
C
10.
3
C
18.
3
K
26.
5
AP
sg34.
4
C
3.
1
C
11.
3
C
19.
3
K
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5
K
sg35.
5
K
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2
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sg36.
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3
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sg37.
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2
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14.
3
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30.
9
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2
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15.
3
C
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4
C
sg31.
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3
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C
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sg32.
3
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Multiple Choice Questions
38.
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67.
3
K
96.
3
AP
125.
5
AP
154.
9
AP
39.
1
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68.
3
C
97.
3
AP
126.
5
K
155.
9
AP
40.
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69.
3
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98.
3
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127.
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sg156.
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41.
1
C
70.
3
C
99.
3
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128.
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sg157.
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1
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71.
3
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100.
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129.
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C
st158.
3
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43.
1
K
72.
3
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101.
3
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130.
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AP
sg159.
3
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44.
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73.
3
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102.
3
AP
131.
5
AP
st160.
3
K
45.
2
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74.
3
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103.
3
AP
132.
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AP
sg161.
3
AP
46.
2
K
75.
3
C
104.
3
AP
133.
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AP
st162.
4
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47.
2
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76.
3
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105.
3
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134.
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AP
sg163.
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AP
48.
2
C
77.
3
C
106.
3
AP
135.
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AP
st164.
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K
49.
2
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78.
3
K
107.
4
AP
136.
6
AP
sg165.
5
AP
50.
2
AP
79.
3
C
108.
4
AP
137.
8
AP
st166.
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K
51.
2
C
80.
3
C
109.
4
C
138.
6
K
sg167.
9
C
52.
2
C
81.
3
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110.
4
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139.
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st168.
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53.
2
AN
82.
3
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111.
4
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140.
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C
169.
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141.
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113.
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AP
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3
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114.
4
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143.
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57.
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86.
3
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144.
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58.
2
AP
87.
3
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116.
4
K
145.
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174.
10
K
59.
3
C
88.
3
C
117.
4
C
146.
8
C
175.
10
K
60.
3
C
89.
3
C
118.
4
AP
147.
8
AN
176.
10
K
61.
3
C
90.
3
C
119.
4
K
148.
8
C
177.
10
K
62.
3
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91.
3
C
120.
4
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149.
9
AP
178.
10
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63.
3
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92.
3
C
121.
5
K
150.
9
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179.
10
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64.
3
AP
93.
3
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122.
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151.
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K
65.
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94.
3
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123.
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AP
152.
9
AP
66.
3
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95.
3
C
124.
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AP
153.
9
AP
sg This question also appears in the Study Guide.
st This question also appears in a self-test at the student companion website.
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FOR INSTRUCTOR USE ONLY
SUMMARY OF QUESTIONS BY LEARNING OBJECTIVES AND BLOOM’S
TAXONOMY
Brief Exercises
180.
2
AN
183.
3
AN
186.
5,6
AN
189.
8
AN
181.
3
AN
184.
4
AP
187.
5,8
AP
190.
8
AN
K
182.
3
AN
185.
5
AP
188.
6
AP
191.
9
AN
Exercises
192.
1
C
198.
3
AN
204.
3,8
AN
210.
5
AP
216.
8
AP
193.
1,8
AN
199.
3
AN
205.
4
AN
211.
5
AN
217.
9
AN
194.
2
AN
200.
3
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206.
4
AP
212.
5,6
AN
218.
9
AN
195.
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AP
201.
3
AN
207.
4
AP
213.
5,6,8
AP
196.
3
AN
202.
3
AP
208.
4
AP
214.
6,8
AN
197.
3
AN
203.
3
AN
209.
5
AP
215.
6,8
AP
Completion Statements
219.
1
K
222.
3
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225.
3
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228.
4
K
231.
8
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220.
2
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223.
3
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226.
3
K
229.
4
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232.
8
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2
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3
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227.
3
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230.
5
AP
Matching Statements
233.
1
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Short-Answer Essay
234.
3
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236.
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238.
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240.
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235.
1
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237.
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239.
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241.
3
K
SUMMARY OF LEARNING OBJECTIVES BY QUESTION TYPE
Item
Type
Item
Type
Item
Type
Item
Type
Item
Type
Item
Type
Item
Type
Learning Objective 1
1.
TF
31.
TF
40.
MC
43.
MC
193.
Ex
235.
SA
2.
TF
38.
MC
41.
MC
156.
MC
219.
C
237.
SA
3.
TF
39.
MC
42.
MC
192.
Ex
233.
MA
239.
SA
Learning Objective 2
4.
TF
44.
MC
48.
MC
52.
MC
58.
MC
195.
Ex
5.
TF
45.
MC
49.
MC
53.
MC
157.
MC
220.
C
6.
TF
46.
MC
50.
MC
55.
MC
180.
BE
221.
C
7.
TF
47.
MC
51.
MC
57.
MC
194.
Ex
Learning Objective 3
8.
TF
33.
TF
69.
MC
82.
MC
95.
MC
159.
MC
203.
Ex
9.
TF
54.
MC
70.
MC
83.
MC
96.
MC
160.
MC
204.
Ex
10.
TF
56.
MC
71.
MC
84.
MC
97.
MC
161.
MC
222.
C
11.
TF
59.
MC
72.
MC
85.
MC
98.
MC
181.
BE
223.
C
12.
TF
60.
MC
73.
MC
86.
MC
99.
MC
182.
BE
224.
C
13.
TF
61.
MC
74.
MC
87.
MC
100.
MC
183.
BE
225.
C
14.
TF
62.
MC
75.
MC
88.
MC
101.
MC
196.
Ex
226.
C
15.
TF
63.
MC
76.
MC
89.
MC
102.
MC
197.
Ex
227.
C
16.
TF
64.
MC
77.
MC
90.
MC
103.
MC
198.
Ex
234.
SA
17.
TF
65.
MC
78.
MC
91.
MC
104.
MC
199.
Ex
236.
SA
18.
TF
66.
MC
79.
MC
92.
MC
105.
MC
200.
Ex
240.
SA
19.
TF
67.
MC
80.
MC
93.
MC
106.
MC
201.
Ex
241.
SA
32.
TF
68.
MC
81.
MC
94.
MC
158.
MC
202.
Ex
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FOR INSTRUCTOR USE ONLY
SUMMARY OF LEARNING OBJECTIVES BY QUESTION TYPE
Learning Objective 4
20.
TF
34.
TF
111.
MC
116.
MC
162.
MC
207.
Ex
21.
TF
107.
MC
112.
MC
117.
MC
163.
MC
208.
Ex
22.
TF
108.
MC
113.
MC
118.
MC
184.
BE
228.
C
23.
TF
109.
MC
114.
MC
119.
MC
205.
Ex
229.
C
24.
TF
110.
MC
115.
MC
120.
MC
206.
Ex
238.
SA
Learning Objective 5
25.
TF
121.
MC
126.
MC
131.
MC
164.
MC
209.
Ex
230.
C
26.
TF
122.
MC
127.
MC
132.
MC
165.
MC
210.
Ex
27.
TF
123.
MC
128.
MC
133.
MC
185.
BE
211.
Ex
28.
TF
124.
MC
129.
MC
134.
MC
186.
BE
212.
Ex
35.
TF
125.
MC
130.
MC
135.
MC
187.
BE
213.
Ex
Learning Objective 6
136.
MC
139.
MC
141.
MC
143.
MC
188.
BE
215.
Ex
138.
MC
140.
MC
142.
MC
186.
BE
214.
Ex
Learning Objective 7
144.
MC
145.
MC
Learning Objective 8
36.
TF
147.
MC
187.
BE
193.
Ex
214.
Ex
231.
C
137.
MC
148.
MC
189.
BE
204.
Ex
215.
Ex
232.
C
146.
MC
166.
MC
190.
BE
213.
Ex
216.
Ex
Learning Objective 9
29.
TF
150.
MC
154.
MC
191.
BE
30.
TF
151.
MC
155.
MC
217.
Ex
37.
TF
152.
MC
167.
MC
218.
Ex
149.
MC
153.
MC
168.
MC
Learning Objective 10
169.
MC
171.
MC
173.
MC
175.
MC
177.
MC
179.
MC
170.
MC
172.
MC
174.
MC
176.
MC
178.
MC
Note: TF = True-False BE = Brief Exercise C = Completion
MC = Multiple Choice Ex = Exercise MA = Matching
SA = Short-Answer Essay
CHAPTER LEARNING OBJECTIVES
1. Identify the different types of receivables. Receivables are frequently classified as (1)
accounts, (2) notes, and (3) other. Accounts receivable are amounts customers owe on
account. Notes receivable are claims for which lenders issue formal instruments of credit as
proof of debt. Other receivables include nontrade receivables such as interest receivable,
loans to company officers, advances to employees, and income taxes refundable.
2. Explain how companies recognize accounts receivable. Companies record accounts
receivable when they perform a service on account or at the point of sale of merchandise on
account. Account receivable are reduced by sales returns and allowances. Cash discounts
reduce the amount received on accounts receivable. When interest is charged on a past due
receivable, the company adds this interest to the accounts receivable balance and recognizes
it as interest revenue.