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

All of the following are types of receivables except:

Interest receivable

Notes receivable

Accounts receivable

Inventory receivable

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Verified step by step guidance

Understand the concept of receivables: Receivables are amounts owed to a company by customers or other parties, typically arising from sales or lending activities. Common types include accounts receivable, notes receivable, and interest receivable.

Analyze the given options: Interest receivable refers to interest earned but not yet received, notes receivable are formal written promises to pay, and accounts receivable are amounts owed by customers for goods or services provided on credit.

Recognize that 'Inventory receivable' is not a valid type of receivable: Inventory refers to goods available for sale or production, and it is classified as an asset, not a receivable. Receivables specifically involve amounts owed to the company.

Confirm the correct answer: Since 'Inventory receivable' does not fit the definition of receivables, it is the correct answer to the question.

Conclude the reasoning: The other options (interest receivable, notes receivable, and accounts receivable) are valid types of receivables, while 'Inventory receivable' is not.