--%>
Assignment Help - homework help

Define the term Accounts Receivable

Accounts Receivable: The money owed by customers (that is, individuals or corporations) to other entity in exchange for services or goods that have been employed or delivered, however not yet paid for. Receivables generally come in the form of operating lines of credit and are generally due in a relatively short period of time, ranging from few days to a year.

On a public company's balance sheet, the accounts receivable is frequently recorded as an asset since this symbolizes a legal obligation for the customer to submit cash for its short-term debts.

   Related Questions in Financial Accounting

  • Q : Issuing dual currency bonds What

    What borrower must consider before issuing the dual currency bonds?

    		•
  • Q : Calculating Dixons Retail plc in

    Q : Define Financial Accounting Give a

    Give a brief introduction of the term ‘Financial Accounting’. And also write down its elements?

    		•
  • Q : Current and capital account deficit

     Exhibit 3.3 states that in year 1991, the U.S. had current account deficit and consecutively a capital account deficit. Explain about how this may occur?

    		•
  • Q : Define Conspicuous Consumption

    Conspicuous Consumption: It is the phenomena of spending money on services and goods which are not required but keeping them gives you a high social status. Those things are kept mainly for the purpose of displaying and creating a false image of your

    		•
  • Q : What is the opening accounts receivable

    Big Problem Ltd., an oil refining business uses an allowance system to account for bad debts. At the beginning of the year the allowance had a credit balance of $16,000. The following transactions took place during the year. a) Tot

    		•
  • Q : International diversification Evaluate

    Evaluate the home country’s multinational corporations as a tool for the international diversification.

    		•
  • Q : Define the term Accounts Receivable

    Accounts Receivable: The money owed by customers (that is, individuals or corporations) to other entity in exchange for services or goods that have been employed or delivered, however not yet paid for. Receivables generally come in the form of operati

    		•
  • Q : Book-value method of accounting for

    The stock is recorded at the book value of debt. The convertible debt is removed at the book value, the number of share times par is added to the stock account, and the remaining amount is plugged in to additional paid in capital. Contrast with the market value in whi

    		•
  • Q : Reason for negative synergistic gains

    State the reason for negative synergistic gains for British acquisitions of the U.S. firms?

    		•