Which of the Following Is Not One of the Ways

question 11

Multiple Choice

Which of the following is not one of the ways in which the asset 'other receivables' could be recognised?

• A) Loan to executive director
• B) Sale of machinery on credit
• C) Rent receivable
• D) Prepaid insurance

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Definitions:

Motion

In a civil case, a request made by either party that asks a judge or a court to issue an order in that party's favor.

Mechanic's Lien

A security interest granted to those who have supplied labor or materials that improve property, ensuring payment for their services or goods.

Secured Party

The party that holds an interest in a secured property.

Priority

The order of importance or urgency assigned to something, which often determines the sequence in which tasks or responsibilities are addressed.