Trade receivables are typically collected within three months from the date of sale. Can they be considered

Question:

Trade receivables are typically collected within three months from the date of sale. Can they be considered cash equivalents? Explain.

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

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 978-1259103285

5th Canadian edition

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

See More Books

Question Posted: Aug 04, 2015 04:06 AM

See More Questions

How does the ex-dividend date differ from the date of record?
Trade receivables that are reported on a statement of financial position should reflect the amount that is expected to be realized when collecting from customers. As indicated in Chapter 6,...
To prove the statement that "full independence between X and u implies E[u|X] =0", (1) (i.e., full independence between X and u implies that the OLS Assumption 1 holds), we use the following steps....
A line charge density pL of length L lies parallel to an infinite sheet of surface charge density ps. How much work is required to rotate the line charge so that it is vertical?
Show that the statistic Q defined by Eq. (10.3.4) can be rewritten in the form R n.
What are the underlying mechanisms of microbial pathogenesis, including bacterial virulence factors, host-pathogen interactions, and the evolution of antibiotic resistance, and how can this knowledge...
Throughout the US presidential election of 2016, polls gave regular updates on the sample proportion supporting each candidate and the margin of error for the estimates. This attempt to predict the...
La Batre Bicycle Company manufactures commuter bicycles from recycled materials. The following data for July of the current year are available: Quantity of direct labor...
Combine the following expressions into a single logarithm: log40 (7) + log40 (3) = log40 (1) log43 (5) log43 (7) = log43 ( log35 (9) (log35 (5) + log35 (2)) = log35( = 2 log25 (3) log25( 2 log39(x)+2...
For a NaI(TI) scintillator, you should expect what approximate scintillation efficiency?
Sino- Forest Corporation was a Chinese company that produced fibre boards for residential and commercial use. It made an initial public offering on the Alberta Stock exchange in 1994, and it listed...
When is it acceptable to use the percentage of completion method?
For the tape of Problems 6.8 through 6.11, determine the true horizontal length of the slope distance BC for the conditions shown in Problems 6.12 through 6.13. (Assume the tape was fully supported...
Tara Palmer Tomkinson and the It Girls Tara Palmer Tomkinson has become one of the most well-known British celebrities over the last ten years. At the age of 20, she was photographed for Tatler...
1. What platform would you choose for your restaurant of choice and why? 2. What are the best times to post content for your restaurant of choice? 3. What can you tell about their top two...
What are the concepts of the issue regarding students who do not get the most out of their university experience?
Recent developments in Indian Psychology and what is its place in the academic arena now?
explain The program is designed to equip accounting and finance professionals with the strong critical thinking, problem-solving and technology skills needed to advance business strategy
In Problems 712, evaluate each given determinant after first simplifying the computation (as in Example 6) by adding an appropriate multiple of some row or column to another. 3-2 0 5 6 -4 5 17 12
Describe the general ways that the revised Form 990, applicable for tax year 2008 and beyond, is different from previous versions.
Skie Incorporated had the following transactions involving current assets and current liabilities during February 2012. Feb. 3 Collected accounts receivable of $15,000. 7 Purchased equipment for...
Hendi Company has these comparative balance sheet data: Additional information for 2012:1. Net income was $25,000.2. Sales on account were $375,000. Sales returns and allowances amounted to...
Selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). InstructionsCompute the...
The purpose of this assignment is to better understand what the important pieces of the Linux/Unix operating system that you might want to prioritize reviewing when you are doing a forensic...
What is the function of the Helix system? What are the benefits of this tool? How does it work in terms of digital evidence collection? How do you get evidence of Unix, Linux, and Mac OS operating...
Analyzing revenue, expense, and withdrawal transactions into debit and credit parts Use the chart of accounts for Hals Marketing Services given in Application Problem 2-2. Transactions: Mar. 25. Sold...

Trade receivables are typically collected within three months from the date of sale. Can they be considered

Question:

Step by Step Answer:

Trade receivables cannot be considered cash equivalents They are normally collec...View the full answer

Financial Accounting

Students also viewed these Accounting questions