Which of the Following Is True About Interest Receivable

question 90

Multiple Choice

Which of the following is true about interest receivable?

• A)It is an asset reported on the balance sheet.
• B)It is a temporary account reported on the income statement.
• C)It is a permanent account reported on the income statement.
• D)It represents the amount of interest the company has received on promissory notes.

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Definitions:

Incarceration

The state of being confined in prison; imprisonment.

Wetland

An area of land saturated with water, either permanently or seasonally, creating a distinct ecosystem often rich in biodiversity.

Dredged Material

Material that has been removed from the bottom of water bodies to maintain or increase waterway depth for navigation and flood control purposes.

Marketable Discharge Permits

Permits that allow holders to emit a certain amount of pollutants into the environment, which can be bought, sold, or traded, creating an economic incentive for reducing emissions.