A receivable created from selling merchandise or services on account

A) Accounts receivable turnover
B) Net realizable value
C) Accounts receivable
D) Aging the receivables
E) Receivables
F) Direct write-off method
G) Allowance for doubtful accounts
H) Bad debt expense
I) Notes receivable

Question

Destini White · Accepted Answer

Final Answer : C, Explanation :  Accounts receivable are receivables created from selling merchandise or services on account.Answer: BNet realizable value is the amount of accounts receivable that is expected to be collected and is calculated by subtracting the allowance for doubtful accounts from the total accounts receivable.Answer: EReceivables refer to any amounts owed to a business, including accounts receivable and notes receivable.Answer: DAging the receivables involves separating the accounts receivable into different categories based on how long they have been outstanding, which helps the business track and manage collections.Answer: INotes receivable are written promises from customers to pay the business a certain amount at a specified time in the future.Answer: AAccounts receivable turnover is a ratio that measures how quickly a business is able to collect on its accounts receivable.Answer: FThe direct write-off method is a method of accounting for bad debts that involves waiting until a specific account is deemed uncollectible before writing it off as a loss.Answer: GThe allowance for doubtful accounts is a contra asset account that is used to reduce the reported amount of accounts receivable to its estimated net realizable value.Answer: HBad debt expense is the expense incurred by a business when a customer is unable to pay its accounts receivable and they are written off as uncollectible.

A receivable created from selling merchandise or services on account

A) Accounts receivable turnover
B) Net realizable value
C) Accounts receivable
D) Aging the receivables
E) Receivables
F) Direct write-off method
G) Allowance for doubtful accounts
H) Bad debt expense
I) Notes receivable

Definitions

Learning Objectives

Learning Objectives

Related questions

A receivable created from selling merchandise or services on accountA) Accounts receivable turnoverB) Net realizable valueC) Accounts receivableD) Aging the receivablesE) ReceivablesF) Direct write-off methodG) Allowance for doubtful accountsH) Bad debt expenseI) Notes receivable

Definitions

Learning Objectives

Learning Objectives

Related questions

A receivable created from selling merchandise or services on account

A) Accounts receivable turnover
B) Net realizable value
C) Accounts receivable
D) Aging the receivables
E) Receivables
F) Direct write-off method
G) Allowance for doubtful accounts
H) Bad debt expense
I) Notes receivable