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Receivables are:
Answer

a. One of the most liquid assets and thus are always considered current assets.

b. Claims that are expected to be collected in cash.

c. Shown on the Income Statement at cash realizable value.

d. Always the result of revenue recognition.


The matching principle:
Answer

a. requires that all credit losses be recorded when an individual customer cannot pay.

b. necessitates the recording of an estimated amount for bad debts.

c. results in the recording of a known amount for bad debt losses.

d. is not involved in the decision of when to expense a credit loss.

Liam Smith 08-Jun-2018
Answer: (Solved)
Liam Smith
receiveble areoption "b" . Claims that are expected to be collected in cash"remainig all are not correct ..the reason why.option "a" it is not liquid asset ,because it can be further classify into long term or short term current or non current assets...
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