Which of the Following Asset Accounts Is Increased When a Receivable

question 68

Multiple Choice

Which of the following asset accounts is increased when a receivable is collected?

• A) Accounts Receivable
• B) Supplies
• C) Accounts Payable
• D) Cash

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Definitions:

Accounting Definition

Refers to the systematic process of recording, measuring, and communicating information about financial transactions.

Financial Resources

Assets in the form of cash, credit, or other financial assets that are available to an individual or organization for use.

Total Economic Cost

The sum of explicit and implicit costs associated with a business activity or decision, considering both direct financial outlays and opportunity costs.