In Its 2008 Year-End Balance Sheet, Reliable Would Report Installment

question 90

Multiple Choice

In its 2008 year-end balance sheet, Reliable would report installment receivables (net) of:

• A)$20,000.
• B)$35,000.
• C)$25,909.
• D)$10,000.

---

Definitions:

Personal Property

Tangible or intangible items that belong to an individual or business, excluding real estate.

True Owner

The individual or entity that holds the legitimate rights to ownership or possession of property.

Finder

An individual who locates and takes possession of an item that was lost or unclaimed.

Confusion

The state of being bewildered or unclear in one's mind about something.