A(n) ________ Identifies How Much Cash Is Needed to Meet

question 6

Multiple Choice

A(n) ________ identifies how much cash is needed to meet financial obligations and the source of that cash.

• A) business statement
• B) income statement
• C) capitalization statement
• D) cash-flow statement
• E) balance sheet

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Definitions:

Accounts Payable

Liabilities to creditors, representing amounts the company owes for goods and services it has received but not yet paid for.

Note Receivable

A financial asset representing a written promise to receive a specific amount of money, plus interest if applicable, by a certain date.

Dishonored

A term used when an instrument such as a check is not accepted or paid upon presentation.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered or used but not yet paid for.