Receivables are: Answer a. One of the most liquid assets and thus are always considered current assets. b. Claims that are expected to be collected in cash. c. Shown on the Income Statement at cash realizable value. d. Always the result of revenue recognition. The matching principle: Answer a. requires that all credit losses be recorded when an individual customer cannot pay. b. necessitates the recording of an estimated amount for bad debts. c. results in the recording of a known amount for bad debt losses. d. is not involved in the decision of when to expense a credit loss