The payee has a legal obligation to submit the funds.
Explanation:
Once a transaction is agreed upon it becomes a legal obligation of the payee to pay the business owner.
<u>Accounts receivable are thus counted in the balance sheets as liquid funds or current funds as they are converted into cash in less than an year is most cases. </u>
In such a case that doesn't happen, they are counted as long term assets of a company. Any potential income guaranteed by legality is counted in the balance sheet as assets.
False should be the answer
Answer:
Part a.
Accounts receivable turnover ratio is the shows how many times accounts receivable can be converted in to cash during the period. The formula for calculating the same is given below.
Accounts receivable turnover ratio = Net credit sales / Average accounts receivable
The following table shows the accounts receivable turnover ratio of MCB and ABI:
Particulars MCB ABI
Net sales $5,170 $39,046
Average Accounts Receivable $517 $2,606
Accounts Receivable Turnover rate 10 14.98
Part b.
Day's sale outstanding shows the average number of days taken to collect the accounts receivable. The formula for calculating the same is given below.
Day's sale outstanding = Accounts receivable / Total credit sales × 365
The following table shows the days sale outstanding of MCB and ABI:
Particulars MCB ABI
Net sales $5,170 $39,046
Average Accounts Receivable $517 $2,606
Day's sale outstanding 36.5 24.36
Answer:
Truthfulness
Explanation:
A credible news organization is an organization that conveys truthful, verified information, ideally without biases. For example, Reuters is one of the most credible organizations because they do not editorialize information: they simply convey it as it is.
Negative news should not be used to promote hidden agendas against something or someone, because if the agenda is discovered, the credibility of the news organization will take a hit.
Women having equal rights to men. This means getting equal pay, treatment and opportunity that men get
