aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
  • Financial Accounting - Commerce
  • Account receivable is a current asset.
Multiple choice

Account receivable is a current asset.

  1. True

  2. False

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Explanation: Receivables which arise on account of sales are generally realizable within a period of one year. (may even for shorter periods) Hence they are treated as current assets.

Keep practicing — related questions

  • Balance sheet is also a ledger account.
  • Debtors which are older than six months and sticky are not current assets.
  • Directions: State whether the following statement is True Or False. Purchase of fixed asset is a use of funds.
  • With reference to Balance of Payments, which of the following constitutes/constitute the Current Account? 1...
  • If the income shown in the income and expenditure account for entrance fees is Rs. 24,000 and 60% of the en...
  • Which of the following is rate of interest given to Radha, if she receives the maturity amount of Rs. 6,455...
  • Deepak opened a recurring deposit account in a bank and deposited Rs. 500 per month for 3 years. If he will...
  • A bank has allowed a current account holder an ad hoc overdraft of Rs. 15 lakh. That amount is now due. Is ...
Play the full quiz 🎤 Practise this topic out loud

Practice this topic

  • Accounting Principles and Practice (1241 questions)
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy