Question
1 Accounts receivable: a) are payments that the firm has made in advance to a supplier for goods or services that it will receive at
1 Accounts receivable: a) are payments that the firm has made in advance to a supplier for goods or services that it will receive at a later date; b) are amounts due from customers or from others to whom a firm has made loans or extended credit; c) are amounts due from customers for the sale of goods or services. 2 Services for ordinary maintenance (which preserve, but not improve, the future benefits of a fixed assets) already rendered to the company has to be recorded in the area of: a) costs, in the Income Statement; b) fixed assets, in the Balance Sheet; c) prepaid costs, in the Income Statement.
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