The Ledger That Provides a Separate Record of Credit Customers

question 85

Multiple Choice

The ledger that provides a separate record of credit customers and their respective balances is:

• A) Accounts Ledger
• B) Accounts Receivable Ledger
• C) Accounts Payable Ledger
• D) Customer Ledger

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Definitions:

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Asset Utilization Ratios

Ratios that measure how well a firm uses its assets to generate each $1 of sales.

Short-Term Assets

Assets that are expected to be converted into cash or used up within one year or within the business's operating cycle if longer than a year.