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 an accounts receivable?

Interest receivable from investments

Notes receivable from suppliers

Loans made to employees

Amounts owed by customers for goods sold on credit

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Verified step by step guidance

Understand the concept of accounts receivable: Accounts receivable refers to amounts owed to a business by its customers for goods or services provided on credit. It represents a current asset on the balance sheet.

Analyze the options provided: Interest receivable from investments, notes receivable from suppliers, and loans made to employees are not directly related to amounts owed by customers for goods sold on credit.

Focus on the correct definition: Accounts receivable specifically pertains to amounts owed by customers for goods or services sold on credit, distinguishing it from other types of receivables like interest or loans.

Eliminate incorrect options: Interest receivable, notes receivable, and loans made to employees are examples of other types of receivables but do not fit the definition of accounts receivable.

Conclude with the correct answer: The correct example of accounts receivable is 'Amounts owed by customers for goods sold on credit,' as it aligns with the definition of accounts receivable.