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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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All of the following are ways in which receivables are commonly distinguished except

a. collectible or uncollectible.

b. trade or nontrade receivable.

c. current or noncurrent.

d. accounts or notes receivable.

To determine

Receivables:

The receivables in the business refer to the amount of money which is due to be received from some other business or customer.

To select:

The exception to the different types of receivables.

Explanation

There are many types of receivables which are accounts receivable, notes receivables, current receivables, non-current receivables, trade receivables, and non-trade receivables.

The collectible or uncollectible is not a type of receivables. Hence, option (a) is correct.

The current or non-current receivable is a type of receivables...

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