Which of the Following Statements Is Correct Regarding Receivables

question 72

Multiple Choice

Which of the following statements is correct regarding receivables?

• A) Receivables are written promises of the purchaser to pay for goods or services.
• B) Receivables are claims held against customers and others for money, goods, or services.
• C) Receivables are non-financial assets.
• D) Receivables that are expected to be collected within a year are classified as noncurrent.

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Definitions:

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