Which of the Following Statement Is Incorrect Regarding Receivables on the Statement

question 65

Multiple Choice

Which of the following statement is incorrect regarding receivables on the statement of financial position?

• A)Receivables are a financial asset.
• B)Receivables are financial instruments.
• C)Non-trade receivables are generally reported as separate items in the statement of financial position.
• D)Accounts receivable are written promises of the purchaser to pay for goods or services.

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Definitions:

Conditions

Refers to various states of health or disease, or the environmental or situational factors affecting an organism.

Outcomes

The results or effects of an action, situation, or event.

Salivary Glands

Glands located in and around the mouth and throat that produce saliva, which begins the process of digestion and helps maintain oral health.

Taste Buds

Sensory organs located on the tongue that enable the perception of taste, including sweetness, sourness, bitterness, saltiness, and umami.