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

If you see a mistake on your credit report related to an account receivable, what is the most appropriate first step to take?

Contact the credit bureau to dispute the error.

Ignore the mistake, as it will correct itself over time.

Immediately pay off the account, even if it is not yours.

Close all your credit accounts to prevent further errors.

Previous problemNext problem

Verified step by step guidance

Understand the nature of the error: Review your credit report thoroughly to identify the specific mistake related to the account receivable. Ensure you have supporting documentation, such as account statements or correspondence, to confirm the error.

Contact the credit bureau: Reach out to the credit bureau that issued the report (e.g., Experian, Equifax, or TransUnion). Use their dispute resolution process to formally report the error. Provide all necessary documentation to support your claim.

Notify the creditor: If the error involves a specific creditor, contact them directly to inform them of the mistake. Request that they investigate and correct the issue on their end.

Monitor the dispute process: Follow up with the credit bureau and creditor to ensure the error is being addressed. Keep records of all communications and responses during this process.

Review the corrected report: Once the dispute is resolved, request an updated credit report to confirm that the error has been corrected. Verify that your credit score has not been negatively impacted by the mistake.