Practice Question 02

Which of the following should be classified as an other receivable?

a- Interest receivable

b- Accounts receivable

c- Notes receivable

d- Trade receivables

Practice Question 03

What type of receivables result from sales transactions?

a-	Trade receivables

b- Other receivables

c- Non-trade receivables

d- Long-term receivables

Practice Question 52

Which one of the following is not a method used by companies to accelerate cash receipts?

a-	Writing off receivables

b- Accepting national credit cards for customer purchases

c- Selling receivables to a factor

d- Offering discounts for early payment

Practice Question 53

Which of the following accounts is debited when a company factors its accounts receivable?

a- Interest Expense

b- Service Charge Expense

c- Loss on Sale of Accounts Receivable

d- Accounts Receivable