Question
1) Which statement is not true? a. All accounts receivable to be made in cash, older than 265 days, are disclosed in the non-current assets
1) Which statement is not true?
a. All accounts receivable to be made in cash, older than 265 days, are disclosed in the non-current assets section.
b. Current assets are usually reported in the order of their liquidity.
c.The disclosures related to accounts receivable appear in the notes to the statement of financial position.
d. Cash and cash equivalents are the first items under current assets.
2) The notes or accounts receivable that result from sales transactions are often called:
a. Merchandise credits
b. Non-business transactions
c. commercial transactions
d. Sales receivable
3) What are the other credits that are not classified as "other accounts receivable"?
a. Refundable income tax
b. I anticipate an employee
c. Notes receivable
d. Interest receivable
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