The Text Classifies Accounts Receivables into Which Broad Types

question 3

Multiple Choice

The text classifies accounts receivables into which broad types?

• A) Debtors, receivables, promissory notes
• B) Trade receivables, other receivables, sundry receivables
• C) Accounts receivable, bills receivable, other receivables
• D) Promissory notes, accounts receivable, prepayments

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Definitions:

Proposal

A formal suggestion or plan put forward for consideration or discussion by others.

Percentage

A way of expressing a number as a fraction of 100, used to compare proportions or calculate ratios.

Efficiency Loss

The loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is unattainable.

Tax

Compulsory financial obligation or different form of levy placed on a taxpayer by a government entity to finance public spending.