A Company Reports Net Accounts Receivable of $152,000 on Its

question 118

Multiple Choice

A company reports net accounts receivable of $152,000 on its December 31,2019 balance sheet.The Allowance for Bad Debts has a credit balance of $20,000.What is the balance of Accounts Receivable?

• A) $157,000
• B) $152,000
• C) $172,000
• D) $132,000

Understand the concept of negotiability and the characteristics that make an instrument negotiable.

Understand the rights and obligations of a Holder in Due Course (HDC) and the protections afforded to them.

Comprehend the impact of endorsements on the negotiability and transferability of instruments.

Recognize the legal implications of fraud and illegal activities on the enforceability of negotiable instruments.

---

Definitions:

Prefrontal Cortex

The front part of the frontal lobe of the brain, involved in complex behaviors such as decision making, problem-solving, and social interaction.

Limbic System

A complex system of nerves and networks in the brain, involving several areas near the edge of the cortex concerned with instinct and mood. It controls the basic emotions (fear, pleasure, anger) and drives (hunger, sex, dominance, care of offspring).

Hippocampus

A region of the brain associated with memory formation, organization, and storage, as well as playing a role in navigation and spatial orientation.

Diabetes

A chronic condition characterized by high blood sugar levels resulting from either an inability of the body to produce insulin (Type 1) or an inability to effectively use the insulin it produces (Type 2).