Question: Non-trade receivables should be reported separately from trade receivables. Select the best answer explaining if this question is either true or false and the reason.
Non-trade receivables should be reported separately from trade receivables. Select the best answer explaining if this question is either true or false and the reason.
Question 11 options:
| It is true because non-trade receivables do not result from business operations and should not be included with accounts receivable | |
| It is false because management can decide how to report receivables. | |
| It is true because trade receivables are current assets and non-trade receivables are long term. | |
| It is false because all current receivables must be grouped togeher in one account. |
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