Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

7. Receivables and Investments

Types of Receivables

Financial Accounting

7. Receivables and Investments

Types of Receivables

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Multiple Choice

Which of the following is an example of easy-access credit in the context of receivables?

Trade receivables from long-term contracts

Mortgage receivables

Credit card receivables

Notes receivable

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Verified step by step guidance

Understand the concept of easy-access credit: Easy-access credit refers to credit that is readily available to consumers without extensive approval processes. It is typically short-term and involves quick transactions.

Analyze the options provided: Trade receivables from long-term contracts, mortgage receivables, credit card receivables, and notes receivable.

Evaluate each option: Trade receivables from long-term contracts are tied to specific business agreements and are not easily accessible. Mortgage receivables are long-term and involve significant approval processes. Notes receivable are formal agreements that may require negotiation and are not considered easy-access.

Focus on credit card receivables: Credit card transactions are a form of easy-access credit because they allow consumers to make purchases quickly and repay later, often with minimal approval processes.

Conclude that credit card receivables are the best example of easy-access credit in the context of receivables.