1. Accounts receivable are:

A. classified as current assets on the balance sheet. B. represent payments due from credit customers. C. Neither a nor b. D. Both a and b.

2. A note receivable is:

A. a promissory note and is an unconditional promise to pay a sum of money on demand or on a certain date. B. classified as current asset on the balance sheet. C. Both a and b D. Neither a nor b