The Two Most Common Types of Receivables Are

question 82

Multiple Choice

The two most common types of receivables are

• A) accounts receivable and notes receivable.
• B) notes receivable and other receivables.
• C) trade receivables and other receivables.
• D) accounts receivable and trade receivables.

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Definitions:

Import Quota

A government-imposed limit on the quantity or value of goods that can be imported into a country.

Tariffs

are taxes imposed by a government on imported goods, designed to protect domestic industries and to generate revenue.

Government Revenue

The total income received by the government from taxes and non-tax sources used to fund public spending.

Smoot-Hawley Tariff

A U.S. law enacted in 1930, which raised tariffs on thousands of imported goods, contributing to the severity of the Great Depression by stifling international trade.