Partnering Is Best Used When There Are Only Two Parties

question 15

True/False

Partnering is best used when there are only two parties in a dispute about a few issues.

---

Definitions:

Accounts Receivable

Money owed by customers for goods or services that have been delivered but not yet paid for.

Accounts Payable

Accounts payable are liabilities representing the amount a business owes to its suppliers or creditors for goods and services received but not yet paid for.

Cash Receipts Journal

A journal used to record all cash inflows or money received by the business.

Cash Received

The amount of money a business collects, normally in exchange for goods or services.