A Promise Received from a Business's Customers to Pay for Goods

question 28

Multiple Choice

A promise received from a business's customers to pay for goods and services that they received from the business is called a(n) :

• A) account receivable.
• B) account payable.
• C) revenue.
• D) expense.

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Definitions:

Entities

Any definable units, such as individuals, organizations, or objects, that exist independently with distinct characteristics.

Data Points

Individual units of data, often numerical, that represent a specific measurement or piece of information in a broader data set.

Cardinality

In databases, a term that indicates the nature of the relationship between two entities, showing how many of one entity type are related to one of another.

Entity

An individual, company, organization, or system that has a distinct, separate existence for legal or business purposes.