Asked by Quentin Washington on Jul 20, 2024
Verified
Which of the following receivables would not be classified as an "other receivable"?
A) advance to an employee
B) interest receivable
C) refundable income tax
D) notes receivable
Other Receivable
Financial claims against other parties excluding customers, typically representing short-term non-trade receivables such as refunds, deposits, or advances.
Notes Receivable
Financial assets representing the right to receive payments from a debtor pursuant to a written promise or agreement.
- Learn the process of segmenting and presenting different receivables on a balance sheet.
Verified Answer
Learning Objectives
- Learn the process of segmenting and presenting different receivables on a balance sheet.
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