Table of contents

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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

All of the following are types of receivables in financial accounting, except:

Interest Receivable

Accounts Payable

Accounts Receivable

Notes Receivable

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Verified step by step guidance

Understand the concept of receivables: Receivables are amounts owed to a company by its customers or other parties. They are considered assets because they represent future cash inflows.

Identify the types of receivables: Common types of receivables include Accounts Receivable, Notes Receivable, and Interest Receivable. These are all classified as assets on the balance sheet.

Analyze the exception: Accounts Payable is not a receivable. It is a liability, representing amounts the company owes to suppliers or creditors for goods and services received.

Compare the classifications: Receivables are assets, while Accounts Payable is a liability. This distinction is crucial in financial accounting.

Conclude the reasoning: Based on the definitions and classifications, Accounts Payable is the correct answer as it does not belong to the category of receivables.