Receivables would be classified in a Statement of Financial Position as:
A) Non-current asset
B) Current asset
C) Non-current liability
D) Current liability

Name: Receivables would be classified in a Statement of Financial Position as: A) Non-current asset B) Current asset C) Non-current liability D) Current liability
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Question

Quizplus · Accepted Answer

Receivables are classified as a current asset because they are expected to be converted into cash within one year or within the operating cycle of the business, whichever is longer.

Receivables Would Be Classified in a Statement of Financial Position