You Are an Accounting Intern and Today You Are Compiling

question 89

Multiple Choice

You are an accounting intern and today you are compiling a spreadsheet with column headings of: Invoice number; Customer number; < 30 days; 31-60 days; 61-90 days; > 90 days. You will list every unpaid invoice with the amount owed entered into the appropriate column based on the number of days between the sale date and today. Once you have completed that, you will sort the report by customer number and total the amounts listed in each column. What is this report called?

• A) Credit report
• B) Aging schedule
• C) Risk assessment report
• D) Turnover delineation
• E) Receivables consolidation report

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Definitions:

Monthly Rates

Rates calculated or applied on a monthly basis, commonly found in subscriptions, rentals, or loans.

Annual Rates

The interest rate for a period of one year, often used in contexts such as loans or investments.

Diesel Fuel

A type of fuel derived from petroleum, used primarily in diesel engines, which are known for their efficiency and power.

Liter

A metric unit of volume equal to one cubic decimeter, used to measure liquids and other volumetric quantities.