The receivable that is usually evidenced by a formal instrument of credit is a(n)

A) trade receivable.
B) note receivable.
C) account receivable.
D) income tax receivable.

Formal Instrument

A legal document expressing an agreement, obligation, or right enforceable by law.

Note Receivable

A financial asset representing a written promise for the repayment of a specific amount of money, plus interest, by a debtor to the lender at a future date.