Non-trade receivables should be reported separately from trade receivables. Sele

Question

Non-trade receivables should be reported separately from trade receivables. Select the best answer explaining if this question is either true or false and the reason.

Question 11 options:

It is true because non-trade receivables do not result from business operations and should not be included with accounts receivable

It is false because management can decide how to report receivables.

It is true because trade receivables are current assets and non-trade receivables are long term.

It is false because all current receivables must be grouped togeher in one account.

It is true because non-trade receivables do not result from business operations and should not be included with accounts receivable

It is false because management can decide how to report receivables.

It is true because trade receivables are current assets and non-trade receivables are long term.

It is false because all current receivables must be grouped togeher in one account.

Explanation / Answer

Ans;

It is true because trade receivables are current assets and non-trade receivables are long term.

explantation;

Non-trade receivables should be reported separately from trade receivablesIt is true because trade receivables are current assets and non-trade receivables are long term.

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