Which of the Following Is True About the Presentation of Receivables

question 90

Multiple Choice

Which of the following is true about the presentation of receivables?

• A)Companies must report gross accounts receivable on the statement of financial position.
• B)Companies must report the carrying amount of accounts receivable on the statement of financial position.
• C)Bad debts expense must be reported under non-operating expenses in the statement of income.
• D)The allowance for doubtful accounts must be reported in the liabilities section of the statement of financial position.

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Definitions:

Procrastinators

Individuals who delay or postpone tasks and decisions.

Progress

The forward or onward movement toward a goal or to a more advanced state, often measured by milestones or improvements in performance.

Finish Line

The final goal or end point of a race or an endeavor.

Workaholic

An individual who compulsively works long and hard hours, often to the detriment of personal relationships and health.