The Two Major Types of Receivables Are Accounts Receivable and Bills

question 43

True/False

The two major types of receivables are accounts receivable and bills receivable.

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Definitions:

Legal Remedies

Actions available through the court system to enforce a right, impose penalties, or grant relief to the harmed party.

Progressive Discipline

A method of employee discipline that applies increasingly severe penalties for repeated offenses.

Respondeat Superior

The legal doctrine that imposes liability on employers and makes them pay for torts committed by their employees within the scope of the employer’s business. Literally translated, it means “Let the master respond.”

Non-delegable Duty

A legal obligation that cannot be transferred to another party and must be performed by the individual or entity to whom it is assigned.