A Customer's Check Received in Settlement of an Account Receivable

question 91

True/False

A customer's check received in settlement of an account receivable is considered cash.

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Definitions:

Participate

To take part in or become involved in an activity, event, or process.

Board Meetings

Gatherings of a board of directors or trustees of an organization to discuss and make decisions on the organization's affairs.

Inspect Corporate Books

The act of reviewing and examining the official records and accounts of a corporation.

Ownership

The state or fact of having legal possession and control over property, conferring rights such as use and the ability to transfer or sell it.