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 NOT a type of receivable commonly recognized in financial accounting?

Interest Receivable

Accounts Receivable

Inventory Receivable

Notes Receivable

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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.

Step 2: Review the common types of receivables. These include Accounts Receivable (amounts owed by customers for goods or services), Notes Receivable (formal written promises to pay), and Interest Receivable (interest earned but not yet received).

Step 3: Analyze the term 'Inventory Receivable.' Inventory is a physical asset and is not considered a receivable because it represents goods held for sale rather than amounts owed to the company.

Step 4: Compare 'Inventory Receivable' with the other options provided. Since inventory is not a receivable, it does not fit the definition of receivables commonly recognized in financial accounting.

Step 5: Conclude that 'Inventory Receivable' is NOT a type of receivable commonly recognized in financial accounting, as it does not represent an amount owed to the company.