Which of the Following Is NOT True Regarding Accounts Receivable

question 17

Multiple Choice

Which of the following is NOT true regarding accounts receivable?

• A)Accounts receivable arise from credit sales where we debit account receivable and credit sales.
• B)The risk is that a customer may break their promise to pay resulting in a bad debt or uncollectible account.
• C)It is important to track accounts receivable to determine if accounts are collected in a timely manner.
• D)Due to a company's prescreening activities,it is generally not that important to track the receivable after the credit sale.

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Definitions:

Psychosocial Development

The process by which an individual's social and psychological aspects develop through his or her lifespan, often outlined in stages by theories such as those of Erik Erikson.

Integrity

The quality of being honest and possessing strong moral principles; moral uprightness.

Community

A group of people living in the same place or having a particular characteristic in common, often marked by a sense of belonging or shared norms.

Psychosocial Development

The process individuals go through as they age, encompassing changes in both psychological and social functioning.