Receivables Are Normally Reported on the Balance Sheet at Net

question 68

Multiple Choice

Receivables are normally reported on the balance sheet at net realizable value.In contrast,payables are carried at face value.Which accounting principle requires this treatment of payables?

• A)Materiality concept.
• B)Monetary unit assumption.
• C)Going concern assumption.
• D)Matching concept.

---

Definitions:

Developed

Refers to something that has been advanced or progressed, often used in the context of countries, technologies, or ideas that have reached an advanced stage.

Sleeplessness-produced Problem

Issues or complications that arise as a direct result of insufficient sleep, such as cognitive impairments or mood disorders.

Concentrating

Concentrating involves focusing one's attention or mental effort on a specific task, object, or activity, often leading to better performance or understanding.

Forgetfulness

A common occurrence of temporary memory lapses or the inability to remember information or experiences, often due to factors like stress, aging, or lack of sleep.