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Question 33 (1 point) Tom&Dick sells computer software. All credit transactions are done through credit cards, so there is a 100% probability of receiving the
Question 33 (1 point) Tom&Dick sells computer software. All credit transactions are done through credit cards, so there is a 100% probability of receiving the money, but there is a wait of up to 10 days while the transaction is being processed. When Tom&Dick prepares financial statements at the end of its first business year, it should a) include accounts receivable as an asset because of the matching principle b) exclude accounts receivable as the amount is variable with interest rates c) include accounts receivable as an asset because of the cost principle d) exclude accounts receivable, because customers may not pay
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