Asked by
Alexandra Helen
on Oct 15, 2024
Verified
An Installment Accounts Receivable is classified as a non-current asset if the installment period is six months.
Installment Accounts Receivable
Amounts owed by customers for purchases made on credit that are to be paid in regular, periodic installments.
Non-current Asset
An asset that is not expected to be converted into cash, sold, or consumed within one year or within the normal operating cycle of the business.
- Acquire an understanding of the key concepts and value of managing accounts receivable and its influence on cash flow.
- Discern the ramifications of applying notes receivable and identify their differences compared to accounts receivable.
Verified Answer
AC
Learning Objectives
- Acquire an understanding of the key concepts and value of managing accounts receivable and its influence on cash flow.
- Discern the ramifications of applying notes receivable and identify their differences compared to accounts receivable.