Accounts Receivable Represents

question 104

Multiple Choice

Accounts receivable represents

• A) an asset with long-term use or value,such as land,buildings,and equipment.
• B) an amount due from a customer who has purchased goods on credit.
• C) an expense,such as rent,that is paid before the upcoming period in which it is due.
• D) a nonphysical asset,such as a patent or trademark,that has economic value in the form of expected benefit.
• E) an asset that can or will be converted to cash within the following year.

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Definitions:

External Strategic Alliances

Partnerships between businesses and other organizations, formed to pursue mutual goals while maintaining their independence.

Boundaryless Organizations

Companies that remove traditional barriers between departments as well as barriers between the organization and the external environment.

Internal Boundaries

Guidelines and distinctions set within an organization to delineate responsibilities, roles, and departments.

External Environment

External factors, forces, situations, and events outside the organization that can affect its performance and strategies.