Under Which of the Following Categories Would Accounts Receivable Appear

question 85

Multiple Choice

Under which of the following categories would Accounts Receivable appear?

• A) Current assets
• B) Current liabilities
• C) Long-term assets
• D) Long-term liabilities

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Definitions:

Cognitive Development

The process of growth and change in intellectual abilities, such as thinking, reasoning, and understanding, over the course of a lifetime.

Responsible Stage

In Schaie’s theory, the stage of cognitive development faced during middle adulthood in which ill-defined problems remain the norm, but problem solving must now take into account not only one’s own personal needs and goals but also those of others in one’s life that have become one’s responsibility (spouse, children, coworkers, member of the community).

Acquisition Stage

In Schaie’s theory, the time in cognitive development (during childhood and adolescence) when an individual is sheltered from the majority of life’s responsibilities and can learn a skill or a body of knowledge regardless of whether it has any practical goal or social implications.

Achieving Stage

In Schaie’s theory, the stage of cognitive development when a young adult must apply her intellectual skills to the achievement of long-term goals, carefully attending to the consequences of the problem-solving process.