Which of the Following Statements Are Capable of Being Representations

question 24

Multiple Choice

Which of the following statements are capable of being representations?

• A) Statements of opinion.
• B) Statements of fact.
• C) Statements as to future conduct or intention.
• D) Statements of law.

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Definitions:

Lockbox System

A service provided by banks to process payments quickly by allowing companies to have their customers send payments to a special post office box.

Disbursement Float

The time lag between when a payment is issued by a payer and when the funds are actually withdrawn from the payer's account.

Receivable Accounts

Balances of money due to a company for goods or services provided that have not yet been paid by customers.

Collection Time

The average period that a company takes to collect payments from its customers after a sale has been made, impacting cash flow and liquidity.