The Accounts Receivable Period Is the Time That Elapses Between

question 84

Multiple Choice

The accounts receivable period is the time that elapses between the _____ and the ____.

• A)purchase of inventory; payment to the supplier
• B)purchase of inventory; collection of the receivable
• C)sale of inventory; payment to supplier
• D)sale of inventory; collection of the receivable
• E)sale of inventory; billing to customer

---

Definitions:

Bank Statement

A bank statement is a summary of financial transactions that occurred over a certain period of time in a bank account, provided regularly by the bank to the account holder.

Transactions

The act of conducting business or commercial activities, often involving the exchange of goods, services, or funds.

Quarterly

Pertaining to or occurring every three months.

Legible Copy

A copy of a document that is clear enough to be read easily and accurately.