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

Previous problemNext problem

Struggling with Financial Accounting?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

Which of the following is NOT considered a type of receivable in financial accounting?

Notes Receivable

Accounts Receivable

Interest Receivable

Inventory Receivable

Previous problemNext problem

Verified step by step guidance

Step 1: Understand the concept of receivables in financial accounting. Receivables are amounts owed to a company by customers or other parties, typically resulting from sales or lending activities. They are classified as assets on the balance sheet.

Step 2: Review the types of receivables mentioned in the problem: Notes Receivable, Accounts Receivable, and Interest Receivable. These are all legitimate types of receivables in financial accounting.

Step 3: Analyze the term 'Inventory Receivable.' Inventory is a physical asset that represents goods available for sale, not an amount owed to the company. Therefore, 'Inventory Receivable' is not a valid type of receivable.

Step 4: Compare 'Inventory Receivable' with the other options provided. Since it does not fit the definition of a receivable, it is the correct answer to the question.

Step 5: Conclude that 'Inventory Receivable' is NOT considered a type of receivable in financial accounting because it refers to physical goods rather than amounts owed to the company.