13. What is the common practice in providing for loss on bad notes receivable?
14. How should non-interest bearing notes be valued?
15. What items should be included under the title of “notes receivable”?
Chapter XIII
1. Define the term “stock-in-trade.”
2. What is the most conservative basis upon which to value stock-in-trade? Criticize other bases of valuation which may be used.
3. Explain the use of balance sheet footnotes to indicate the market value of stock-in-trade.
4. What is the proper basis of valuation for depreciated stock-in-trade?
5. Discuss all of the items that may go to make up the cost of stock-in-trade.
6. How may items of cost, which are not directly attributable to any one department, be equitably distributed?