An Account Receivable Is Typically Classified as a Revenue

question 196

True/False

An account receivable is typically classified as a revenue.

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Definitions:

Disclaimer

A statement that denies something, especially responsibility.

Negligent Misrepresentation

A false statement made carelessly that induces another party to enter into a contract, resulting in harm or loss.

Fraudulent Misrepresentation

A false statement made knowingly or recklessly designed to induce another party to enter into a contract.

Scienter

Knowledge of wrongdoing or fraudulent intent, often required to be proven in cases of securities fraud.