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mart x false 1259458&instructorld-8; i0393 1 &assignmentDueDate-2018-06-19; + 03%3A59%3A008?sEbookAccess ation for Decisions-Wild, Be, Introducing Financial Statements How would you characterize a company\'s Accounts Receivable account? Click the answer you think is right. It is a liability account. It is an asset account. It is a revenue account. It is an expense account. Do you know the answer? I know it Think so Unsure No idea 57 Items let

Solution

The Answer is “ It is an Asset Account “

- Accounts Receivable is an asset to a company. Accounts Receivable is the amount receivable from the customer who purchased the goods or services on a credit basis from the company.

- On the company\'s Balance Sheet, The Accounts Receivable shall be recorded as an asset since it’s an obligation for the parties to repay the amount due to the company.

- Accounts receivables are shown under current asset head since it’s recoverable within a period of one year or less