Which of the Following Is Not a Source of Short-Term

question 263

Multiple Choice

Which of the following is not a source of short-term funds?

• A)Trade credit
• B)Accounts receivable
• C)Commercial paper
• D)Line of credit

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Definitions:

Useful Life

Useful Life is the estimated period that an asset is expected to be productive or provide benefits to a business, determining its depreciation or amortization schedules.

Goodwill Recognition

The process of accounting for the excess of purchase price over the fair value of identifiable assets and liabilities of an acquired entity.

US GAAP

United States Generally Accepted Accounting Principles, the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC).

IFRS

International Financial Reporting Standards, a set of accounting guidelines that govern how financial statements are prepared worldwide.