The asset that results when a customer buys goods or services on credit is:
A)Accounts receivable
B)Accounts payable
C)Notes receivable
D)Cash

Name: The asset that results when a customer buys goods or services on credit is: A)Accounts receivable B)Accounts payable C)Notes receivable D)Cash
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Question

Quizplus · Accepted Answer

When a customer buys goods or services on credit, it means the customer owes money to the seller, creating an account receivable for the seller. Therefore, the correct answer is choice A, accounts receivable.

The Asset That Results When a Customer Buys Goods or Services