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Which of the Following Statements Is Not Correct

question 12

Multiple Choice

Which of the following statements is not correct?


Definitions:

Accounts Receivable

Funds that customers owe to a company for products or services provided but not yet compensated for.

Accounts Payable

Money owed by a company to its creditors for goods or services that have been received but not yet paid for.

Cash

Money in the form of coins or banknotes, especially that which is available for transactions and accounting purposes.

Office Supplies

Items used in offices by businesses and other organizations for writing, printing, filing, and performing other tasks.

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