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 least likely to be a field in a customers table related to types of receivables?

Customer Name

Customer Address

Interest Revenue Earned

Accounts Receivable Balance

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Verified step by step guidance

Understand the context of the problem: A customers table in accounting typically contains fields that are directly related to customer information and their receivables. These fields help track transactions and balances associated with each customer.

Review the provided options: Customer Name, Customer Address, Interest Revenue Earned, and Accounts Receivable Balance. Consider whether each field is logically related to the purpose of a customers table.

Analyze the purpose of each field: Customer Name and Customer Address are essential for identifying and locating customers. Accounts Receivable Balance is directly related to the receivables owed by the customer, which is a key component of the table.

Evaluate the field 'Interest Revenue Earned': This field is not directly related to tracking customer-specific receivables. Instead, it pertains to revenue earned from interest, which is typically recorded in a separate revenue account rather than a customers table.

Conclude that 'Interest Revenue Earned' is least likely to be a field in a customers table related to types of receivables, as it does not align with the primary purpose of tracking customer-specific information and balances.