Which of the following provides the best explanation for whyaccounts receivable are normally classified as current assets inthe balance sheet Multiple Choice Because these amounts usually are small relative to totalassets Because these amounts arise from normal operations Because these amounts typi...

D All of the other answers are correct All ...

Which of the following provides the best explanation for whyaccounts receivable are normally classified as current assets

Fantastic news! We've Found the answer you've been seeking!

Question:

Which of the following provides the best explanation for whyaccounts receivable are normally classified as current assets inthe balance sheet?

Multiple Choice

Because these amounts usually are small relative to totalassets.
Because these amounts arise from normal operations.
Because these amounts typically will be collected within oneyear.
All of the other answers are correct

Related Book For answer-question

Core Concepts of Government and Not For Profit Accounting

ISBN: 978-0471737926

2nd edition

Authors: Michael H. Granof, Penelope S. Wardlow

See More Books

Posted Date: Nov 22, 2022 10:40 AM

See More Questions

Which of the following provides guidance to government managers and auditors in determining appropriate and allowable costs chargeable to federal grants? 1. Financial Accounting Standards Board...
Which of the following items are normally classified as a current liability for a company that has a 15-month operating cycle? 1. Salaries payable. 2. Note payable due in 19 months. 3. FICA taxes...
Which of the following items are normally classified as current liabilities for a company that has a 15-month operating cycle? 1. Portion of long-term note due in 15 months. 2. Note payable maturing...
3. Using an AD-AS model, can you answer whether a tax that improves people's health could have any potential long-term benefits for the economy.
Parametric Technology Corporation (PTC) is a software manufacturer. It develops, markets, and supports software that helps manufacturers improve the competitiveness of their products. PTC provides a...
Using the information provided in Exercise 1 above, how large a sample size should be taken to estimate the proportion of all Canadian grocery shoppers who are trying to make healthier food choices...
The PCAOB auditing and related professional practice standards include the following, except: (a) Auditing standards (b) Attestation standards (c) Ethics and independence standards and rules (d)...
Preparing a Bank Reconciliation and Related Journal Entries The bookkeeper at Wood Company has not reconciled the bank statement with the Cash account, saying, I dont have time. You have been asked...
3 Part 2 of 3 10 points A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 430 units. Ending inventory at January 31...
Based on Exhibit 1, the probability of Orion defaulting on the bond during the first three years is closest to: A. 1.07%. B. 2.50%. C. 3.85%. John Smith, a fixed-income portfolio manager at a 10...
An Italian company is expecting to receive Kuwait dinars in 9 months' time. The spot rate is Lire/dinar 5.467.Your Company could borrow in dinar at 9% per annum or in Lire at 14% per Annum No forward...
Fill in the Blank. The complete solution of a vibration problem is composed of the ___________ state and transient solutions.
The time it takes for a text message to be delivered In Exercises 3340, determine whether the data described are discrete or continuous.
The number of electrical outlets in a coffee shop In Exercises 3340, determine whether the data described are discrete or continuous.
Fill in the Blank. The transient response of a system can be found using the ____________ integral.
True or false: Nominal variables do not have a natural ordering.
By FREUD from his book "Jokes and their Relationship to the Unconscious" 1) According to Freud, why do small children enjoy playing with words, and how do they find pleasure in play? 2) Explain how...
Use critical values to test the null hypothesis H0: 1 2 = 20 versus the alternative hypothesis H0: 1 2 20 by setting a equal to .10, .05, .01, and .001. How much evidence is there that the...
Required supplementary schedules provide the actuarial information necessary to assess a plans fiscal status. The following information was reported in the schedule of funding progress of a states...
What is the GASBs rationale for requiring two sets of financial statements, each with a different measurement focus and basis of accounting for governmental activities?
Capital projects funds account for construction expenditures, not for the assets that are being constructed. The Wickliffe City Council approves a budget of $9,027,000 to restore the city library....
On March 1, 2017, a U.S. company enters a forward contract locking in the selling price of C$$1$ ,000,000, for delivery on April 15, 2017. The contract does not qualify for hedge accounting. What...
A UK company hedges its U.S. dollar purchase of equipment from a U.S. supplier using a forward contract exchanging pounds for U.S. dollars at a fixed rate. The forward qualifies as a hedge of a...
Pinnacle Foods imports a variety of items for resale to U.S. retailers. Following is a description of purchases and foreign-currency-denominated payments made in the last accounting period, plus the...

Which of the following provides the best explanation for whyaccounts receivable are normally classified as current assets

Question:

Expert Answer:

D All of the other answers are correct All ... View the full answer

Core Concepts of Government and Not For Profit Accounting

Students also viewed these accounting questions