If a Customer Makes Payment on a Receivable That Has

question 139

True/False

If a customer makes payment on a receivable that has already been written off,the receivable account is reestablished.

Understand the functions of various punctuation marks in the English language.

Identify the different parts of speech and their definitions.

Recognize the structure and elements of a standard business letter.

Distinguish between different types of correspondence used in the medical office and their purposes.

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Definitions:

Statute of Frauds

A rule of law that mandates specific contract types to be documented in writing and signed by the accountable party for them to be valid and enforceable.

Oral Agreement

A verbal contract in which the terms have been agreed upon through spoken communication, legally binding in many scenarios but harder to prove in court.

Specially Manufactured

Refers to goods that are custom-made to a buyer's specific requirements and specifications and are not easily sellable to others in the regular course of business.

Statute of Frauds

A legal concept that requires certain types of contracts to be executed in writing and signed by all parties involved, to be enforceable.